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Update: My inspector called my earnest money deposit 'risky'
He said putting down 1% in a hot market like Raleigh was basically asking to lose it if the deal fell through. I switched to a 3% deposit and the seller accepted our offer over a higher bid. Has anyone else had an agent or inspector give advice that actually saved a deal?
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tylerw7219d ago
That's solid advice from your inspector! A bigger deposit really does show you're serious, especially when there are other offers. Makes the seller feel way more secure about the whole thing.
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oliviadixon19d ago
Our inspector told us to put down 50 grand as a deposit to look serious. Fifty thousand dollars! @tylerw72, I get the logic but that's a crazy amount of cash to tie up before anything is even final. It feels like you're just buying your way to the front of the line. What happens if the deal falls apart over something small and you have to fight to get that back? The whole system seems set up to pressure people into risking way too much.
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