[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]

Originally Posted by 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.

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]

Originally Posted by 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.

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

[DaleDivine]

Originally Posted by jh214

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.

[Carol Fiore]

Originally Posted by 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.

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]

Originally Posted by agjaret@aol.com

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.