Escrow Deposits how much is enough

When you write an offer on a house you’re expected to make a good faith deposit. That deposit is held in escrow by the title company and can be contingent on things like financing or a home inspection. I usually tell me buyers around $1,000.00 and it’s surprising how many sellers will accept that amount. However from a sellers point of view you have to ask yourself if you wanted to get out of a contract would you walk away from $1,000.00? A lot of people might if they had a good enough reason. But would you walk away from $5,000.00? Probably not. $10,000.00? Pretty much definitely not. A lot of my buyers are also sellers somewhere else. You have to look at things from both points of view depending on which side you are on at the time.

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