Earnest Money

[Isael Galarza]

How much money do you guys put down as earnest money when putting a home under contract? Or what is considered typical?

Thank You 

[John Thedford]

Do you want to be considered legitimate or a joker? Many sellers might laugh if you tell them $10, $25, etc. I like to write checks from 10K on up. They KNOW I am a serious buyer and not a game player. The higher dollars might persuade them to consider a lower offer as well. Walk into a 150K house and tell them $110K with $10K EM check they might know you are serious. Walk into that same house and tell them $130K with $500 EM, could that make a difference. You never know for sure but one thing is a fact: the guy writing the bigger checks is usually taken more serious than the jokers offering 10 bucks. When I have presented listing agents with 10K EM checks, they know I want the house!