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How to Protect Your Earnest Money Deposit

Highest rated Recent Oldest. Irina Karan , Agent, Aventura, FL.

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Fri Aug 2, Hello Carl, It's a great question! While formally there is no standard percentage for the escrow money in FL, and everything is negotiable, we notice and this depends on the area certain practices. Seller's market requires larger escrow money deposits than the buyer's market. Larger escrow makes you look better in the eyes of the seller, but larger escrow amount also means that you have to be extra careful and do everything your contract requires you to do timely - so you don't loose your escrow money to the seller when breaching the contract, f.

Smaller size properties could be bound into contract with smaller escrow percentages. Hope this helps, Irina Karan Beachfront Realty, Inc. Janine Fine , Agent, Cape Coral, FL. If there are more than one offers coming in on a property and the offers are similar in price and cash offers, of course, the higher the deposit, the better.

AJ Ackerman , Agent, Cape Coral, FL. We don't really have a standard right now. Depending on the situation this can vary. We see many homes with multiple offers, so a higher escrow deposit will show how serious you are about buying the home. This shows that we are ready to buy the home. Mon Jul 29, There is no standard, as with almost everything in real estate its up for negotiation. I would love to help you out, just contact me through my Trulia profile.

You can simply click on my photo or call me. In this competitive market everything matters. Joe , Home Buyer, Dallas County, TX. Sun Jul 21, Mon Aug 11, And Mott is correct, it does depend on the seller, so the higher the earnest monies offered, the more likely you are to be taken seriously.

Earnest Money deposit question - Florida

Cathryn Blair-Bennett First Capital lending Ext. Sun Aug 10, There really is no standard. Generally the higher the earnest money deposit, the more serious the offer will be taken. Myke Atwater , Agent, Santa Rosa Beach, FL. In our area for a normal single family dwelling, seems to be the norm. You can add to that, but most people don't want to lose their , so they will be serious about the deal, and that seems to be what the seller is looking for.

Tman , , I've bought and sold many properties in Florida Bill Eckler , Agent, Venice, FL. Carl, As Scott has said there is no standard amount for the initial or secondary earnest money deposit.

The thing to remember is to present enough in your offer for the seller to consider you a serious buyer but not so much that it would put you in a bind should the transaction go in an unfavorable direction.

You can always increase your cash contribution after inspections are done and contingencies are done.

From a buyer's stand point we suggest committing as little as possible Good luck, The "Eckler Team".

Scott Riddle , Agent, Naples, FL. Carl, There is no standard percentage for earnest money in Florida. A lot of it has to deal with the price of the property and the owner of the peoperty as to what you give for earnest money. There are a lot of cash buyers so you can over come that by putting down a bigger earnest money check to show your genuine interest in the property, because most sellers will go with a cah offer before a standard offer with financing involved.

If I can help you identify a home I can give you some suggestions on earnest money to put down on a particular home. Thanks, Scott Riddle What is the Online Listing Standard for real estate agents?

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