What’s “The Right” Amount For A Good Faith Deposit?

So you are buying or selling a home. How much money should you negotiate in escrow (good faith deposit)?

The answer is that there is no right answer. There is no “normal” amount or “customary” figure. It all narrows down to your level of motivation to acquire the property.  Tipically, stronger contracts tend to offer more deposit, and vice versa. Some other factors to consider when determining an amount:

  1. The other party’s motivation (whom you are negotiating)
  2. Are you competing against other offers?
  3. How long the property’s been on the market?
  4. How strong (or weak) are the other terms in your contract?

Questions about your home value? Call / text (305) 305 1535 or email me!

Categories: Blog

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