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Updated over 10 years ago on . Most recent reply

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Catherine Kahle
  • Monroe, NC
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earnest money

Catherine Kahle
  • Monroe, NC
Posted

What would be a std. earnest money deposit for a deal I have to sell in Wisconsin?

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Hattie Dizmond
  • Investor
  • Dallas, TX
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Hattie Dizmond
  • Investor
  • Dallas, TX
Replied

There is no "standard" earnest money amount. For anything up to a moderate SFR, you generally see $500 to $1000. ("moderate" in normal markets, not the uber expensive markets like NYC, LA, Bay Area, etc.) Higher end & luxury residences may require larger earnest money amounts. But, there is no actual requirement, legally to put down any earnest money, that I'm aware of...at least not in Texas. What you're dealing with is more what is usual & customary or traditional.

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