Question on earnest money amount in CA
10-06-2012 02:44 PM
So after stalking the boards and feeling super informed about the process we finally got preamp proved with a direct VA lender. So it's zero down, our closing cost are covered and we found a home to put an offer on $499k listed. Ten the agent says we need wear nest deposit andd I though ok 1-3 k not too big of a deal but he wanted 10-15k! He said the seller wouldn't even consider it with $3000! I was shocked!
We told him that's all we could do and the worst the could say was No and asked him to call the selling agent to get a feel on their flexibility with this ( House has been on the market 40 days where they are typically lasting 10) The agent said they would consider it so we put a full price offer (originally we would have offered 489k) to make the offer stronger SO my question is 10-15k typical of an earnest deposit? I mean I get it if you have to put that money down for a down payment or closing but if you don't is that much necessary?