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Answers (1)
- Margaret Hickman, GRI/ABR/SRS, "kittenonkeys"
- Contributions:596
If you are speaking of the deposit, it varies according to price range of the house and likely the customs of the area. I just wrote an offer yesterday on a house priced at below $100,000 for sale by owner, and when I presented the offer, the sellers asked me what was typical. It should be an amount sufficient to entice the seller to take his house off the active market and also an amount such that the buyer will not want to lose it by defaulting on the contract. Remember that the deposit comes back to the buyer at closing to be applied to down payment or closing costs. If those are not needed, the deposit is simply returned to the buyer.
If you are speaking of down payment instead, it depends upon the particular loan program if you are financing. V.A. and Rural Development provide 100% financing, while FHA and conventional require down payments.
If you are speaking of down payment instead, it depends upon the particular loan program if you are financing. V.A. and Rural Development provide 100% financing, while FHA and conventional require down payments.
when it comes to putting a contrack on a home how much do i have to put up or does the owner say.
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