Purchaser deposit on an Existing home

[Patents111]

My plan is to purchase an existing home in TV. I will offer all cash with few or no contingencies. In Northwest Virginia, such an offer is typically accompanied by a good faith deposit of about $1,000. I assume it would be higher in TV and that the agent or realtor would like it to be as high as possible- the number and type of contingencies might have an effect also.
For any who have bought an existing home in TV, what amount of deposit was requested, offered by you, negotiated or finally accepted. Many thanks.

[Mrprez]

10k on $260k house. No contingencies. We did do an inspection on a two year old house. They found that the food disposer was noisy. It was replaced.

[retiredguy123]

My plan is to purchase an existing home in TV. I will offer all cash with few or no contingencies. In Northwest Virginia, such an offer is typically accompanied by a good faith deposit of about $1,000. I assume it would be higher in TV and that the agent or realtor would like it to be as high as possible- the number and type of contingencies might have an effect also.
For any who have bought an existing home in TV, what amount of deposit was requested, offered by you, negotiated or finally accepted. Many thanks.
As a seller, I would not accept any offer without at least $10,000 in earnest money. The money is held in escrow by a third party, not by the seller or by the real estate agent. If you only offer $1,000, the seller needs to take the house off of the market until closing, which can be from 30 to 60 days, even for a cash sale. Not a good deal for the seller. I would suggest that you at least include an inspection contingency, and do a professional inspection of the house. Don't expect to get a better deal just because you are paying cash.

[Stu from NYC]

Would never buy a house without a detailed inspection

[Toymeister]

As a seller who had a deal go sideways I would not take a deposit of more than 7,000.

It's not because I am generous or a fool. It's because the distribution of a deposit, (typically held by a title company), if in dispute can be decided in small claims.

I bet you thought a title company would sort this out and you would be wrong. The title company will not nor will they do anything at all to help or guide you through this process. For this aspect of the transaction the title company exists only to enrich themselves through fees.

For the seller and buyer's protection, keep this in the realm of the small claims court which will not cost you significant legal fees

[Michael G.]

Would never buy a house without a detailed inspection

No, FYI, and don't forget to have that inspector check the irrigation system.
My system is screw up from day one with capped lines going nowhere, and 4-6 sprinkler
heads leaking.

[DAVES]

As a seller who had a deal go sideways I would not take a deposit of more than 7,000.

It's not because I am generous or a fool. It's because the distribution of a deposit, (typically held by a title company), if in dispute can be decided in small claims.

I bet you thought a title company would sort this out and you would be wrong. The title company will not nor will they do anything at all to help or guide you through this process. For this aspect of the transaction the title company exists only to enrich themselves through fees.

For the seller and buyer's protection, keep this in the realm of the small claims court which will not cost you significant legal fees

An interesting view. My understanding, I think the op used the term deposit. I think the proper term is earnest money. Basically, put your money where your mouth is.

A CASH offer means they are paying CASH, the seller does not need to be concerned the buyer will be able to qualify for a mortgage. One less potential stumble.

Strangely, I've sold two and bought two in my lifetime. Both sales were for CASH.
One bought for CASH and then asked we wait months for her CD to mature-THAT IS NOT CASH AND I TOLD HER SO. The other was CASH-A CERTIFIED BANK CHECK. It does get complex. A person can stop payment on a bank check-THAT IS NOT CASH EITHER.

A home is likely the most expensive thing most people will ever buy. Not everyone is honest. I make $$$$$$$$$$ oh last year and the year before that were slow years oh and that bankruptcy-forgot about that. Approved mortgage, often it means less than people think. If, what he TOLD US, is true we will give him a mortgage AFTER WE SPEND THE MONEY TO CHECK IF WHAT HE TOLD US IS TRUE.

We sold our previous mortgage paid off home and bought in the villages. I could have paid CASH but, took a mortgage 3.5%. I invested that money and got 12-15% on it over the past ten years and I'm not looking to sell but our villages home would sell for roughly twice what we paid for it. I do think the world is nuts. We read the average age in the villages is 70. They cannot deny you a 30 year mortgage because you are 70 frankly the same is true if you are 90.

RISK? Yes, everything we do has risk.

[DAVES]

10k on $260k house. No contingencies. We did do an inspection on a two year old house. They found that the food disposer was noisy. It was replaced.

Everybody need to justify their fee. Food disposer noisy? The seller probably figured cost like $100, not worth fighting about-heck with it. Could well be one of the lookers wanted to see what would happen if they ?????????????????

[Michael G.]

I do think the world is nuts. We read the average age in the villages is 70. They cannot deny you a 30 year mortgage because you are 70 frankly the same is true if you are 90.



From what I'm told, the VA loans operate like that, no age limit and can get a mortage
for most of the original cost of the house.

[valuemkt]

My plan is to purchase an existing home in TV. I will offer all cash with few or no contingencies. In Northwest Virginia, such an offer is typically accompanied by a good faith deposit of about $1,000. I assume it would be higher in TV and that the agent or realtor would like it to be as high as possible- the number and type of contingencies might have an effect also.
For any who have bought an existing home in TV, what amount of deposit was requested, offered by you, negotiated or finally accepted. Many thanks.

$1K is so yesterday. Plan on anywhere from $10K to 10% non refundable escrow with a 30 day close with a cash offer

[davem4616]

I wouldn't take a house off the market for 1K...even if it was a cash deal....10K, okay

[banjobob]

My plan is to purchase an existing home in TV. I will offer all cash with few or no contingencies. In Northwest Virginia, such an offer is typically accompanied by a good faith deposit of about $1,000. I assume it would be higher in TV and that the agent or realtor would like it to be as high as possible- the number and type of contingencies might have an effect also.
For any who have bought an existing home in TV, what amount of deposit was requested, offered by you, negotiated or finally accepted. Many thanks.
My experience is to offer a very substantial deposit ,8-10 thousand and a fair offer if you want to really buy. Everybody will give a thousand deposit, yours separates you from the rest .

[skippy05]

You absolutely need to call Ira Miller and allow him to represent you in this transaction. He is not only an agent specializing in this location, but also will do a free video for you, fix small things for you, and make sure you do things when you are supposed to do them.

[jswirs]

You absolutely need to call Ira Miller and allow him to represent you in this transaction. He is not only an agent specializing in this location, but also will do a free video for you, fix small things for you, and make sure you do things when you are supposed to do them.
I'll be selling my house soon. Who is Ira Miller, does he have a title? Do you have contact numbers? Thanks!

[La lamy]

I paid $5000. It depends on price of property. Nowadays $10,000 sounds right.

[thevillages2013]

A customer of mine sold a Grandview (3400sq ft premier) through Properties of The Villages about two years ago for 1.45 million. Earnest money(deposit) was $200,000 and if the deal went south the “Realty company “ kept half. It closed

[Catalina36]

My plan is to purchase an existing home in TV. I will offer all cash with few or no contingencies. In Northwest Virginia, such an offer is typically accompanied by a good faith deposit of about $1,000. I assume it would be higher in TV and that the agent or realtor would like it to be as high as possible- the number and type of contingencies might have an effect also.
For any who have bought an existing home in TV, what amount of deposit was requested, offered by you, negotiated or finally accepted. Many thanks.

Do you plan on using a Realtor, or do you plan on making a cash offer directly to a owner bypassing a realtor. Your not buying a used car your making a large purchase and planning to pay cash / bank check. Personally I used The Villages Realty took out a small mortgage especially with the interest rates so low. Closed in 30 days and everything went real smooth. Paying all cash only benefits the Seller if they are looking for a fast deal. But Really, I closed in 30 days and thats with getting a mortgage. Make certain you have a HOME INSPECTION done and remember location is everything.

[MX rider]

We just bought an existing home in TV thru an MLS. We financed for investment reasons, but we were prequalified with our bank. Something they require to even make an offer.
House was 300K and we had to give them $5000 in earnest money. They accepted a personal check from us.

[jimkerr]

We had to put down 10k when we bought in The Villages.

[sallyg]

First house was an MLS listing and we paid $5000. deposit. We made a cash offer and were buying sight unseen. (I know, right? Live and learn). We thought a cash offer was pretty cool, and would give us some leverage - but it is not a big deal in the Villages.
Second house we bought from the Villages and they required 10%, which was hefty. Unless you are buying a brand new home get it inspected and make sure any exterior changes to the home were approved by the Architectural Review Committee, including landscaping. Best of luck.

[lisa kay]

I’m buying a villa put 10,000. Down.Realtor said 10,000,15,000,20,000 or 25,000.
Market is still hot so if you like it better jump on it .Good luck on your shopping.

[jh214]

My plan is to purchase an existing home in TV. I will offer all cash with few or no contingencies. In Northwest Virginia, such an offer is typically accompanied by a good faith deposit of about $1,000. I assume it would be higher in TV and that the agent or realtor would like it to be as high as possible- the number and type of contingencies might have an effect also.
For any who have bought an existing home in TV, what amount of deposit was requested, offered by you, negotiated or finally accepted. Many thanks.

There is no 'Northwest Virginia'. It would be 'Northern Virginia'. Look at a map. Virginia comes to a point in the north.

[DaleDivine]

There is no 'Northwest Virginia'. It would be 'Northern Virginia'. Look at a map. Virginia comes to a point in the north.

If you live in Big Stone Gap or Wise, Virginia, That is in the western part of Virginia and the northern part of that area. Where you're talking about is in the NORTHEAST part of Virginia.
:shocked::shocked::1rotfl:

[Carol Fiore]

My plan is to purchase an existing home in TV. I will offer all cash with few or no contingencies. In Northwest Virginia, such an offer is typically accompanied by a good faith deposit of about $1,000. I assume it would be higher in TV and that the agent or realtor would like it to be as high as possible- the number and type of contingencies might have an effect also.
For any who have bought an existing home in TV, what amount of deposit was requested, offered by you, negotiated or finally accepted. Many thanks.

You could post on next door the house model and location you are interested in and buy directly from the homeowner. I used Tri County to do my closing. For a fee they will write your contract. I lowered my price 5% when I sold directly. It was an easy cash closing. We closed in 15 days.

[sasman29]

I think 10k is more typical. Few Contingencies? Not really a thing. Either there is a contingency or none. Homes are selling fast here in TV. If you see one you like in a village you like scoop it up. Otherwise spec out a new one.
And one more thing. Welcome

[RealJudy]

Typically, a $10,000 deposit.

[agjaret@aol.com]

My realtor told me good faith was 10%. That was $46,000. I wanted a lawyer to read the contract first.

[Patents111]

Thank you for sharing your stories and advice. Very much appreciated. I will continue to monitor future replies as well.

[retiredguy123]

My realtor told me good faith was 10%. That was $46,000. I wanted a lawyer to read the contract first.
Typically, as a buyer, you don't have a real estate agent. The agent works for the seller. You can make an offer with any earnest money amount that you want. In The Villages, $46,000 would be unusually high for a house that is less than $500K.

[MrFlorida]

10 k is the new normal.

[Duppman]

My plan is to purchase an existing home in TV. I will offer all cash with few or no contingencies. In Northwest Virginia, such an offer is typically accompanied by a good faith deposit of about $1,000. I assume it would be higher in TV and that the agent or realtor would like it to be as high as possible- the number and type of contingencies might have an effect also.
For any who have bought an existing home in TV, what amount of deposit was requested, offered by you, negotiated or finally accepted. Many thanks.

We purchased a month before the pandemic hit, put 10K down with an inspection required.

[jrref]

My plan is to purchase an existing home in TV. I will offer all cash with few or no contingencies. In Northwest Virginia, such an offer is typically accompanied by a good faith deposit of about $1,000. I assume it would be higher in TV and that the agent or realtor would like it to be as high as possible- the number and type of contingencies might have an effect also.
For any who have bought an existing home in TV, what amount of deposit was requested, offered by you, negotiated or finally accepted. Many thanks.

I had to leave a $20,000 at contract signing. Whatever you put down make sure everything is contingent on the inspection. Also, if you really want the house it shouldn't make a difference if you leave $10K, $15K or $20K since you will be paying for the house in 30 days anyway. These days some buyers back out and sellers of hot properties want to make sure that's not going to happen to them. This is what happened to the home we just bought. Good for us that the previous purchaser backed out so we were able to get the house but the seller wanted more ernest money from us and i was OK with that because the sale was contingent on the inspection which went fine. The only thing is to make sure the inspector checks the irregation system and look carefully for signs of a previous water leak or flood,VERY important. Before the inspection i would also drive by the house at different times in the day and or evening to make sure you don't have any "crazy" neighbors or other obvious neighbor issues that you may not like.

[virtue51]

I closed in September 2019 and placed a deposit of $10,000. I closed on the house in 30 days, had an inspection and had a real estate lawyer review all documents. This is the single largest purchase for most people. You don't want to be surprised after you own the house.

[Annad]

My plan is to purchase an existing home in TV. I will offer all cash with few or no contingencies. In Northwest Virginia, such an offer is typically accompanied by a good faith deposit of about $1,000. I assume it would be higher in TV and that the agent or realtor would like it to be as high as possible- the number and type of contingencies might have an effect also.
For any who have bought an existing home in TV, what amount of deposit was requested, offered by you, negotiated or finally accepted. Many thanks.

I have a home for sale. Forsalebyowner 204 del rio drive. Check it out!!

[oxfordreb52@gmail.com]

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.

[Jawskid6044]

They offered 2k I countered with 10% which amounted to 50k. They accepted without question.

[sloanst]

My plan is to purchase an existing home in TV. I will offer all cash with few or no contingencies. In Northwest Virginia, such an offer is typically accompanied by a good faith deposit of about $1,000. I assume it would be higher in TV and that the agent or realtor would like it to be as high as possible- the number and type of contingencies might have an effect also.
For any who have bought an existing home in TV, what amount of deposit was requested, offered by you, negotiated or finally accepted. Many thanks.

Anyone demanding payment up front falls into 2 categories. They are either frauds or they are lousy business managers. In either case, don't deal with them.

[msmr23@gmail.com]

$10,000 each for 3 transactions in the villages. It wasn't negotiable

[Mosells]

Typical as a sellers agent, I tell the seller don’t get hung up on the deposit. First the seller requires the buyer to demonstrate proof of funds. If the deal does go south for any reason, the buyer is not going to purchase. The deposit is held in escrow until the buyer and seller sign a mutual release. The advice I offer my seller, are you willing to take the house off the market while you litigate? If the buyer cannot purchase, what judge will make the buyer go through with the purchase. I know it’s contract law. Are you willing to tie up your house for months or years in litigation? Give the buyer back the money, and let’s move forward with another buyer. The size of the earnest money is immaterial. That’s my opinion and I’m sticking with it.

[JMintzer]

Anyone demanding payment up front falls into 2 categories. They are either frauds or they are lousy business managers. In either case, don't deal with them.

Wrong thread...

[Bellavita]

If you were buying my home for Cash I would require a substantial down. A good faith $1000 down is what you did in 1950, this is a new market and you need put down a minimum of 10% if you truly have cash for me to consider your offer. The way you are buying is a risky deal, no background just cash.

My plan is to purchase an existing home in TV. I will offer all cash with few or no contingencies. In Northwest Virginia, such an offer is typically accompanied by a good faith deposit of about $1,000. I assume it would be higher in TV and that the agent or realtor would like it to be as high as possible- the number and type of contingencies might have an effect also.
For any who have bought an existing home in TV, what amount of deposit was requested, offered by you, negotiated or finally accepted. Many thanks.

[Luggage]

Even under certain circumstances a certified check can be stopped. Certified means the funds are in the bank

[retiredguy123]

If you were buying my home for Cash I would require a substantial down. A good faith $1000 down is what you did in 1950, this is a new market and you need put down a minimum of 10% if you truly have cash for me to consider your offer. The way you are buying is a risky deal, no background just cash.
10 percent earnest money would be exceptionally high. $10K is more typical for pre-owned houses sold in The Villages.

[Skunky1]

Quick answer, $10,000.
Whenever buying a house in the Villages make sure to check with the Architect committee to make sure all improvements (patios,driveway add on,Screenroom etc) have been approved. If they have not been approved you may have to bear the cost of having them removed.

[Papa_lecki]

Personally, I prefer a buyer mortgaging the property.
A “cash” buyer can fill out all the disclosure forms int he world, but at settlement, they can’t come up with the money
A mortgage requires the mortgage company perform due diligence on buyer, to ensure they have the money.

[joelfmi]

[QUOTE=Toymeister;2072480]As a seller who had a deal go sideways I would not take a deposit of more than 7,000.

It's not because I am generous or a fool. It's because the distribution of a deposit, (typically held by a title company), if in dispute can be decided in small claims.

I bet you thought a title company would sort this out and you would be wrong. The title company will not nor will they do anything at all to help or guide you through this process. For this aspect of the transaction the title company exists only to enrich themselves through fees. Look through the
For the seller and buyer's protection, keep this in the realm of the small claims court which will not cost you significant legal fees[/QUOTE ] look on the
Talk of the villages Webb and you would be amassed at what you will find about location negativity and other quality of life issues..

[thevillages2013]

If you were buying my home for Cash I would require a substantial down. A good faith $1000 down is what you did in 1950, this is a new market and you need put down a minimum of 10% if you truly have cash for me to consider your offer. The way you are buying is a risky deal, no background just cash.

Don’t know why you think a cash closing is risky. No argument with wanting more earnest money.

[CountryFox]

If you're doing For Sale By Owner I would recommend Advantage Title on 466 across the street from Laural Manor. They have been terrific to work with. If you sell yourself you have the 5-6% commission. Homes priced fairly sell quickly.

[mvivanco]

A customer of mine sold a Grandview (3400sq ft premier) through Properties of The Villages about two years ago for 1.45 million. Earnest money(deposit) was $200,000 and if the deal went south the “Realty company “ kept half. It closed

I believe the Realty company would keep half UP TO their fees. So assuming 3% they would get $43,500 not half. That is a typical contract.

[Miekies]

We purchased in September closed Oct 30th.$10,000 deposit all cash offer. Home was sold as is but we still got an inspection with the right to change our mind upon completion. Home was solid, been here since Dec village of Glenbrook

[JMintzer]

Purchase offer. accepted January 2021, settled February 2021, w/a mortgage. Contract included $10K earnest money...

Closing pending on adequate inspection (seller repaired the few problems, per FL law)...

[PoolBrews]

From what I'm told, the VA loans operate like that, no age limit and can get a mortage
for most of the original cost of the house.

I would never accept an offer with a VA loan again. We did this once in GA - the buyers were great folks, but the VA appraiser was a real winner. He came in and appraised our home at less value than when we had bought it 10 years earlier. His appraisal was $30K less than 3 others we had done. We had added a pool, a finished wrap around porch, and a finished family room and bathroom in our lower level - all of which he checked off as "no added value" on his form.

He nearly tanked the deal for the buyers as I wasn't willing to sell for the price he tried to set. They ended up using my appraiser to get their loan, and I found out after that the appraiser had told them he was trying to get them a better deal.

Add to that the hoops and specific additions a VA loan requires - never again. I love the military, but the VA loan process is highly flawed.

[Patents111]

Again, I have read all replies with much appreciation. $10,000 contingent on a home inspection including irrigation issues is a good starting point, but allowing for some flexibility to negotiate. I like the suggestion of driving by at different times of day to scope out (maybe even meeting) neighbors.

I am grateful to the many replies on TOTV about other things to consider like noise from pickle ball, railroad, highway, golf course maintenance, etc. Equally helpful have been recommendations about maintenance, repairs, traffic circles, transportation, landscaping, home improvement, restaurants and many other issues.

This forum is a source of daily enjoyment for its humor and knowledge- making even a first visit feel like a homecoming. Thanks to you all!!

[Rose Ann Vinci Igoe]

My plan is to purchase an existing home in TV. I will offer all cash with few or no contingencies. In Northwest Virginia, such an offer is typically accompanied by a good faith deposit of about $1,000. I assume it would be higher in TV and that the agent or realtor would like it to be as high as possible- the number and type of contingencies might have an effect also.
For any who have bought an existing home in TV, what amount of deposit was requested, offered by you, negotiated or finally accepted. Many thanks.

I did the same as you, and deposited $15,000... also, they would not stop showing the house, My only contingencies were the sale of my house which was closing in 2 weeks confirmed and a walk through (since it was bought sight unseen)... they continued to tell me they had people interested in buying the house and said if I removed the "walk through" and sale of my house, for contingencies they would take it off the market. I told them, although the sale is 2 weeks away (my agent even called them to confirm) If they died unexpectedly , could get hit by a car etc, the sale would fall through and I would loose my $15,000 deposit, and in no way would I NOT do a walk through. Also, got the house appraised before buying and told them I would only pay appraisal price. No more no less, the house appraised 8,000 LESS and they were furious at me, oh, well, they had to lower the price... something to think about. Enjoy the Villages, its the best thing I ever did.
Oh ya, ck for homes with BOND paid in full. These are in older communities... so worth established residences.

[retiredguy123]

I did the same as you, and deposited $15,000... also, they would not stop showing the house, My only contingencies were the sale of my house which was closing in 2 weeks confirmed and a walk through (since it was bought sight unseen)... they continued to tell me they had people interested in buying the house and said if I removed the "walk through" and sale of my house, for contingencies they would take it off the market. I told them, although the sale is 2 weeks away (my agent even called them to confirm) If they died unexpectedly , could get hit by a car etc, the sale would fall through and I would loose my $15,000 deposit, and in no way would I NOT do a walk through. Also, got the house appraised before buying and told them I would only pay appraisal price. No more no less, the house appraised 8,000 LESS and they were furious at me, oh, well, they had to lower the price... something to think about. Enjoy the Villages, its the best thing I ever did.
Oh ya, ck for homes with BOND paid in full. These are in older communities... so worth established residences.
As a seller, there is no way that I would accept an offer where an appraiser can determine the price of the house.

[Bilyclub]

I did the same as you, and deposited $15,000... also, they would not stop showing the house, My only contingencies were the sale of my house which was closing in 2 weeks confirmed and a walk through (since it was bought sight unseen)... they continued to tell me they had people interested in buying the house and said if I removed the "walk through" and sale of my house, for contingencies they would take it off the market. I told them, although the sale is 2 weeks away (my agent even called them to confirm) If they died unexpectedly , could get hit by a car etc, the sale would fall through and I would loose my $15,000 deposit, and in no way would I NOT do a walk through. Also, got the house appraised before buying and told them I would only pay appraisal price. No more no less, the house appraised 8,000 LESS and they were furious at me, oh, well, they had to lower the price... something to think about. Enjoy the Villages, its the best thing I ever did.
Oh ya, ck for homes with BOND paid in full. These are in older communities... so worth established residences.

I would be surprised if a seller would agree to an appraiser set price in the current market, unless they were getting desperate due to a lack of offers. Appraising is not an exact science.

[Toymeister]

If you're doing For Sale By Owner I would recommend Advantage Title on 466 across the street from Laural Manor. They have been terrific to work with. If you sell yourself you have the 5-6% commission. Homes priced fairly sell quickly.

I could not disagree more strongly.

I used them on a FSBO which went south and they were useless in assistance for distribution of the deposit on the deal which the buyer repudiated (backed out). I sued the would be buyer and Advantage title. Yes, I won.


Taking a title company to court is the ultimate measure of a difficult to work with firm.

[Toymeister]

[QUOTE=Toymeister;2072480]As a seller who had a deal go sideways I would not take a deposit of more than 7,000.

It's not because I am generous or a fool. It's because the distribution of a deposit, (typically held by a title company), if in dispute can be decided in small claims/QUOTE ] look on the
Talk of the villages Webb and you would be amassed at what you will find about location negativity and other quality of life issues..

Well, since this is directed at me, so far, in this thread, I am the only one with actual actionable information on recovering a good faith deposit. Indeed, I recovered my deposit here, in TV.

I certainly hope that is useful.

Heck, even the guy who states he was a realtor and knows all about contract law and stated 'return the deposit" on a sideways deal, is so bizarrely wrong.

I'll take my four decades as a Contracting Officer against a realtors one day overview on contract law any day. A buyer who 'backs out' of a deal is repudiating the contract; the deposit is certainly recoverable by the seller. Provided there was no conditional offer i.e. I will buy your home if XXX.

[deej012160]

I'll be selling my house soon. Who is Ira Miller, does he have a title? Do you have contact numbers? Thanks!

This has probably been answered, but in case it hasn't. Look up Ira Miller on YT. He makes his email & phone # available there.

[Toymeister]

I believe the Realty company would keep half UP TO their fees. So assuming 3% they would get $43,500 not half. That is a typical contract.

NO, it is not the standard contract. BOTH The Properties of The Villages and the Realtors Association of Lake and Sumter Counties standard contract allow the listing firm to take 50% of the earnest money for a offer where the purchased backs out, for their own enrichment.

Leave it to a contracting guy to actually read the contract.