Profile picture for user0525241

DC Earnest Money Deposit in DC

What is the typical Earnest Money Deposit in Washington, DC. If I purchase a house for $55,000, what would you suggest?    
  • October 10 2013 - Washington
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (3)

There is no minimum.  It depends on what the seller will accept.  I would suggest at least $1000 to show your serious about the transaction.  
  • October 10 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Outer Banks N C
$500 to 800 would be where I would suggest at a minimum. Making a $100 earnest money offer does not put much of your money in the game to prevent you from walking away from the deal. As a sellers agent I would ask for more from you.

tim
  • October 10 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for CallTheSisters
In my market if you are making an initial offer at that price then $500 -$1,000 should be fine as a good faith deposit.  If the seller wants to counter and require more they can.

If you wanted to go in with $100 that's fine too. There is no typical or normal.  Everything is negotiable.
  • October 10 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.