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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Customary? I think it depends on a host of factors - local market conditions, competition, the buyer’s decision.

Jun 21, 2019 06:51 PM
Rainmaker
1,292,456
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

 This seems like a question that would be more appropriately put to your fellow agents or your broker.

Jun 21, 2019 06:34 PM
Rainmaker
2,371,895
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I don't have a clue David Rosen but I'd be asking my broker or fellow agents if it were me. I'd also be curious as to if the homeowner has voiced their opinion as they have the real say in the matter.

Jun 21, 2019 07:39 PM
Rainmaker
469,510
Dan & Laurie Pittsenbarger Team
Keller Williams Western Realty - Bellingham, WA
Lakeside & Coastal Single Family Homes

Don't know your area. With out competing offers, in our area the most common amount is 1% for EMD.

Jun 22, 2019 07:05 AM
Rainmaker
1,839,276
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

There is no customary in my area. Contract does not call for a % at all. For 600K would be over $5K & under 10K.

Jun 22, 2019 05:35 AM
Rainmaker
1,598,452
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

We don't have customary % for an initial deposit. Most of our contracts 10% from the purchase price. If more - that customers will decide.

 

Jun 22, 2019 05:17 AM
Rainer
225,526
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

I don’t know in California, but its generally any amount the buyer feels comfortable with. I just sold one of my townhouses in Illinois at $264,000, and the earnest money amount was $3000. I really don’t care, as long as I get the $264K at the end

Jun 22, 2019 05:14 AM
Rainmaker
4,847,665
Richard Weeks
Dallas, TX
REALTOR®, Broker

I bet Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D will have an answer for you.

Jun 22, 2019 03:57 AM
Rainmaker
5,188,610
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Customary got lost years ago. Now, the buyer decides and the seller decides if it is acceptable 

Jun 22, 2019 03:53 AM
Rainmaker
2,219,617
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Parked and reading. 

Jun 21, 2019 08:56 PM
Rainmaker
1,187,999
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

I don't know customary. I always request %5 total for 1st and 2nd deposit but it doesn't always work out that way

Jun 22, 2019 08:24 AM
Rainmaker
5,583,167
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I'm from Massachusetts.... 

HERE, 5% of the purchase price is the total deposit typically on a resale....

10% to 20% on new construction, depending on the price range and/or if it's a custom home.... and the builder uses the deposit if it's a custom home....

Jun 22, 2019 07:31 AM
Ambassador
5,198,207
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

I would think it depends upon how badly the buyer wants the property! 

Jun 22, 2019 06:41 AM
Rainmaker
2,070,825
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

There is no customary %

Jun 22, 2019 05:23 AM
Rainmaker
1,087,837
Diana Zaccaro Broker Associate
Tropical Beachside - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

No idea about San Diego but there is no "customary" here...it depends on numerous factors and is on a case by case basis.

 

Jun 21, 2019 09:41 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Customary is scary word in this business, best to offer what you want to invest to hold the deal, and if you really want the seller to pay attention, then put up a higher amt.

Jun 21, 2019 08:25 PM
Rainmaker
1,497,598
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D?

Jun 22, 2019 03:32 PM
Rainmaker
1,528,499
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

2-3% (pending competition) or a minimum of $10,000

Jun 22, 2019 02:24 PM
Rainmaker
631,496
Jason E. Gordon
CMG Mortgage, San Diego, CA - San Diego, CA
Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE

On the loan side of the business, I am seeing most Earnest Money Deposits at 1.00% - 1.50% of the purchase price as of late. In your particular $600K escrow, I would say a $10K EMD would be very suitable.

Jun 22, 2019 09:31 AM
Rainmaker
921,404
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I suggest 1% and the buyers says 'How about $2,000?" and I say, "Sounds fine to me."

Jun 22, 2019 08:21 AM
Rainmaker
5,772,353
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

David,

I think that Jeff Dowler, CRS gave you the answer, and he works in the area. A

Jun 22, 2019 07:57 AM
Rainmaker
5,095,861
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

That's always a negotiated amount as far as I'm concerned. I'm more interested in a high due diligence fee when representing a seller than a high earnest money deposit.

Jun 22, 2019 07:43 AM
Rainmaker
2,775,046
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

At the heart of it.....Good faith governs it. Go from there

Jun 22, 2019 05:34 AM
Rainmaker
5,846,858
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

In Denver is around 1%.

Jul 12, 2019 12:20 PM
Rainmaker
4,894,557
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

If you mean Earnest money $6000

Jun 24, 2019 06:08 PM
Rainmaker
1,236,920
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

3%

Jun 22, 2019 07:01 PM
Rainmaker
2,165,502
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

$20,000+-

Jun 22, 2019 11:22 AM
Rainmaker
1,722,326
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

AS Jeff Dowler, CRS wrote, but never more than 3%.

Jun 22, 2019 09:55 AM
Ambassador
3,338,449
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

In San Jose, it is 3% of the purchase price. $600,000 would be $18,000 wired to escrow within 1 day of acceptance. 

Jun 22, 2019 09:14 AM
Rainmaker
706,402
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

I don't know about San Diego, but in our market it is typically 1% so for a $600,000 purchase the earnest money would be $6000.

Jun 22, 2019 09:08 AM