How Big A Deposit, What Size Holds A Property For Sale?

By
Real Estate Agent with MOOERS REALTY ME Broker License 106759

Taking the property off the current inventory of real estate listings, how big a deposit, what sizes holds a property for sale?

Until the buyer can travel from out of state or perform whatever inspection, meet whatever delaying contingencies before finally proceeding to the real estate closing. Log jams, kinks that stop the flow of every day living are dangerous.pondering what to do lake photo

Time is money and delay in real estate marketing is costly.

As a Maine real estate broker who has to explain to the next hot to trot cash buyer that a property they are getting sweet on is already under contract, you want to be as sure as possible.

To uncover all the details, to look for red flags before advising a seller to sign this contract that takes the property out of serious marketing circulation.

What to do, should the seller accept this offer beyond just what is typed in the price blank on the contract software? Think long and hard. Have a seat. Sleep on it.

Before taking the property off the market effectively, careful study of the reasons for the delay in selling need pondering.

Considering the time of year and level of interest in the property also comes into play. Especially for waterfront property in Maine. When buyers may think of ice fishing and snow sledding in the dead of winter. But not eating grilled food on the open deck or tubing behind a jet ski, kayaking on like a bottle calm water.

Whatever makes study of more than the size of the deposit to "hold the property" so the buyer can go through the motions of whatever is needed to satisfy a bank or to provide time to finish up his last property sale in the domino of moving on to a new replacement piece of real estate to acquire. So does how many just like this listing is parked in the inventory. Is it feast or famine and what is the financial situation of the seller who may be just a few heartbeats away from losing the place due to cement shoe heavy economic strains pulling him to the bottom in a low point of his life. real estate vending truck inventory photo

If both the seller and buyer mutually benefit from the delay so be it.

But usually, delays of any kind in a real estate sale can be the kiss of death.

And we all know you take your first offer very very seriously.

Unless there is so so much attached to it that makes the chances of getting to a real estate closing on time or at all pretty dim. Slim to none because the way the contract to sell was structured was loose as a goose and very sketchy.

Nothing good happens the longer the sale is tied up on the operating table and the seller held hostage to death by paperwork, the fulfillment of contingencies. Read full real estate article on How Big A Real Estate Deposit Needed To Hold A Property?

I'm Maine REALTOR Andrew Mooers, ME Broker

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Rainmaker
2,438,919
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Great post and advice...I am sure it will assist many folks!

Aug 18, 2017 06:46 AM #1
Rainmaker
1,784,046
Andrew Mooers
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Kristin Johnston - REALTOR® Deposits put in the trust account waiting for release at the real estate closing are very important areas to eagle eye in our job huh?

Aug 18, 2017 07:11 AM #2
Rainmaker
3,180,948
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I do some checking with the lender to make sure things will move forward

Aug 18, 2017 07:30 AM #3
Rainmaker
2,553,834
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

We don't work with deposits here on Long Island. We go directly to contract, so buyers better be ready to buy...

Aug 18, 2017 08:18 AM #4
Rainmaker
1,784,046
Andrew Mooers
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Local lenders give us the best results William Feela ...

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400  ... no deposit, no under contract.

Aug 18, 2017 08:54 AM #5
Rainmaker
1,487,059
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Taking a property off the market at the wrong time can spell trouble. First of all, when a seller takes their home off the market, there are lots of sneaky agents ready to pounce on the owner, tempting them with fake buyers, making promises they can't keep, and giving the seller false hope.

The agent who first listed already put a lot of time into the listing. Is it fair to pull the listing from that agent just when there may be a potential buyer ready to make an offer? That agent already invested a lot of time and money marketing the property. More than half the work was already done.

Andrew Mooers is an agent in the know who knows the ins and outs of Real Estate. He's one of the best in Maine. I would listen to what he says. 

Aug 21, 2017 11:37 AM #6
Rainmaker
1,784,046
Andrew Mooers
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

The exposure stops, it is a total eclipse of the marketing when the marketing broadcast goes dark. The buyer that was tracking it figures it sold and when it does come back on the market, they are confused. Figure further on their own that must be something wrong with the property. Mishandling property delicate surgery means time, money, frustration the buyers and sellers don't need.

Aug 22, 2017 05:11 AM #7
Rainmaker
1,344,092
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

Hi Andrew, thanks for the post and advice. Enjoy the rest of your weekend.

Aug 26, 2017 12:00 PM #8
Rainmaker
1,784,046
Andrew Mooers
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Thanks Sybil Campbell .

Aug 27, 2017 07:53 AM #9
Rainmaker
3,725,345
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Great thoughts on the size of a deposit, Andrew.  Sellers need to carefully consider their options when under contract and look for serious engagement from the buyers.

Sep 01, 2017 06:10 AM #10
Rainmaker
1,784,046
Andrew Mooers
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Thank you Gabe Sanders !

Sep 01, 2017 01:07 PM #11
Rainmaker
2,473,688
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce - Short Sale

Ah yes....most especially in a Sellers market...Bigger is Better...write like you mean it and be rewarded with a new home !

Sep 02, 2017 03:29 AM #12
Rainmaker
1,784,046
Andrew Mooers
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Sally K. & David L. Hanson ... You got that right.

Sep 03, 2017 08:39 AM #13
Ambassador
2,044,118
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Oh, you're so right, Andrew! Having skin in the game and expeditiously performing Due Diligence is definitely key to keeping the transaction moving.

Have a great week, Andrew!

Sep 05, 2017 05:30 AM #14
Rainmaker
1,784,046
Andrew Mooers
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Money down ... it shows you mean business as the buyer wanting the seller to park the property while you pull off the house out of the hat rabbit trick Debe Maxwell, CRS !

Sep 05, 2017 06:10 AM #15
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Rainmaker
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Andrew Mooers

Northern Maine Real Estate-Aroostook County Broker
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