Asked by Franciso, Edison, NJ • Fri Sep 19, 2008
Well I posted some time ago that I made an offer on a home my wife and I absolutely love and the sellers countered with an out of reach number. We decided to walk away and give it some time to think about it. Well my LA calls me up and tells me that they have decided to accept the original offer but they need more than the $600.00 "Good Faith" deposit so they know I'm serious. She said that they are asking for $4,000.00 for the good faith portion. Does that sound reasonable or realistic? I have the contract in hand and am going to see my attorney on Monday, but I want get your feedback on this situation. I'm assuming that this $4,000 will be applied to my down payment - that is how it is written in my contract for example if I was putting down 20,000, the contract says 4,000 deposit and 16,000 due at closing. Any thoughts??
As usual thanks!!!
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