How much deposit?

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Here earnest money isn't really a percentage, but usually anywhere from $1000-5000 (probably more on million+ properties). Our last purchase was $5000. If you look at it from the seller's standpoint, a higher earnest money deposit means a more serious buyer. People do walk away from contracts and forego the deposit, but it's easier to do with a smaller deposit. Here selling "as is" doesn't excuse the seller from disclosing all known defects, but may mean that they won't be willing to negotiate much on repairs. What kind of contingencies did you put in your accepted offer?
Originally Posted by CurlyInTheFog
I have the mortgage contingency and the inspection contingency.

I just walked away from another house 3 weeks ago and now Weichert, not the buyer, is keeping the deposit. I want to apply the deposit to this house but weichert isn't letting me. That deposit was much smaller, only $1000.
The agent wrote the contract, he put in the 10%. I guess they are trying to make it difficult for me to walk away this second time. The buyers already saw the amount so they don't want to change it to 5% now. I get that. I agree with I don't have the right people by my side.
Thank you all for your responses.
curlyprincess1 likes this.
Here earnest money isn't really a percentage, but usually anywhere from $1000-5000 (probably more on million+ properties). Our last purchase was $5000. If you look at it from the seller's standpoint, a higher earnest money deposit means a more serious buyer. People do walk away from contracts and forego the deposit, but it's easier to do with a smaller deposit. Here selling "as is" doesn't excuse the seller from disclosing all known defects, but may mean that they won't be willing to negotiate much on repairs. What kind of contingencies did you put in your accepted offer?
Originally Posted by CurlyInTheFog
I have the mortgage contingency and the inspection contingency.

I just walked away from another house 3 weeks ago and now Weichert, not the buyer, is keeping the deposit. I want to apply the deposit to this house but weichert isn't letting me. That deposit was much smaller, only $1000.
The agent wrote the contract, he put in the 10%. I guess they are trying to make it difficult for me to walk away this second time. The buyers already saw the amount so they don't want to change it to 5% now. I get that. I agree with I don't have the right people by my side.
Thank you all for your responses.
Originally Posted by violets
Who is "the agent?" Your agent or the sellers' agent? Plz tell me it wasn't your agent who offered up 10%!

You should write something into the contract that you have an out for inspection, an out for financing and an out for any reason by a certain date or you can void the contact and get your money back. No way would would I escrow 10% of ay purchase price unless the language was written strongly in my favor.
curlyprincess1 likes this.
3b (with 3c tendencies) on modified CG

Buyers would be better served, they say, by a thorough property inspection and an extended home warranty.

Seller disclosure forms leave your house wide open to buyers

I'm not really a fan of the extended home warranty; however, I have good people around me who help with this decision. Good luck!
Here earnest money isn't really a percentage, but usually anywhere from $1000-5000 (probably more on million+ properties). Our last purchase was $5000. If you look at it from the seller's standpoint, a higher earnest money deposit means a more serious buyer. People do walk away from contracts and forego the deposit, but it's easier to do with a smaller deposit. Here selling "as is" doesn't excuse the seller from disclosing all known defects, but may mean that they won't be willing to negotiate much on repairs. What kind of contingencies did you put in your accepted offer?
Originally Posted by CurlyInTheFog
I was in this situation at one point about HardiePlank. It was at a time when it was the best thing since sliced bread, but proved otherwise.
The 'realtor' who was representing the buyer was like a shady attorney.
We did end up negotiating and still did very well. But to this day, I have a bad taste in my mouth. Never again.
Good luck and know that if you pass this 'perfect' place up another one will surface.
A lot of what you can and can't reasonably do depends on location. CA is often a seller's market and buyers don't have a lot of leeway in what they can demand. We bought this house in 2004, which was a hot seller's market but not peak. We couldn't even put in the contingency of selling our other house--I mean, we could have, but we'd never have gotten an accepted offer from anyone. So we left it out and sweated for three weeks until our house sold. Our next house will probably be in another state and cheaper, so we will hopefully be able to buy with cash (retirement). I can't wait to be the one finally holding all the cards.

And CA is one of those states where you have to disclose everything. The stack of forms to be signed at closing is ridiculous.
curlyprincess1 likes this.
3a/b, F, normal porosity

Wash with either Suave Tropical Coconut, As I Am, or CJ Daily Fix
Condition with STC or Yes to Blueberries and detangle with Denman, rinse very lightly (baptismal rinse)
Add LAL gel, either Sport or Wet Look, scrunch with flour sack towel, and plop
Diffuse 5 minutes, then air dry
Overall, it is to the seller's advantage. However, I tend to agree with you CITF. Viotlets just lean on your real estate agent. Isn't that their job?
I wish you the best.

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