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

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

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

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

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

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

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

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

Parked and reading. 

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

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....

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

There is no customary %

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

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.

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

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

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.

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

David,

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

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.

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

In Denver is around 1%.

If you mean Earnest money $6000

3%

$20,000+-

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

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

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.