How Much Should Your Deposit Be?

/ / Published in Q&A - Home Buying Questions, Real Estate Tips

Question:

“We’re going to make an offer on a home for $875,000. How much do you think our deposit be? Is $2500 too low?”

Answer:

Yes!

The seller won’t take your offer seriously with a low deposit like that.

Deposits are typically 1 to 2% of the price. When I represent a homeseller, I insist on 1% minimum.

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Licensed since 1984, San Diego real estate broker Gary Kent is a recognized authority on real estate. In addition to selling over 5,500 homes for clients, he has been an expert court witness, trainer of other agents, and he does seminars on home buying, home selling, and investing. Gary has sold homes for The Salvation Army, dozens of major banks, and Fannie Mae, amongst others. You can find Gary on Facebook, Instagram and YouTube.

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