Interesting responses for sure. For the most part of these replies, the figure that is mentioned $10,000. No where is there a requirement to put down any money but it is a good practice to put down something that is reasonable between both parties. I would gamble to say your realtor came up with this figure as it is the normal amount all realtors in TV throw out unless you are buying a very expensive house in the $1,000,000 and above. Then it is about 10% of the value but there is no set amount. In fact I questioned my realtor about this for TV and he said what many of the above answers revealed. In TN, MS, IN, and several other states I have purchased houses, the % was 2. I put down $5k here, all cash deal, and closed in 21 days. That was a 1.5 years ago. Don’t just take these opinions to heart as they are opinions and not a law. You are normally in the driver’s seat and can judge how quickly the house is in demand. Mine here had another offer and they took ours.
__________________
oxfordreb52
|