Who Is Earnest? And Why Does He Want My Money?

By
Real Estate Agent with REMAX 2000

How Much Earnest Money Is the Right Amount?

There isn't any legal answer when it comes to deciding the right amount of earnest money. In general, the answer is whatever a seller is willing to accept. In some markets, the norm is to put down 1 percent of the total purchase price. For instance, for a $300,000 house, a buyer might be expected to put down $3,000.  But if a buyer is bidding on a hot property in a great neighborhood, it could make sense to boost the sum to increase the odds of the sellers accepting the offer.

Comments (1)

Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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Oct 06, 2017 06:18 PM