Sell My House - the Deposit
By asking for a substantial deposit – anywhere from 3-5% – you will not be running the risk of the buyer giving into ‘cold feet’ or opting to forgo the deposit and start proceedings on another home. Unfortunately some people don’t find a problem with staking claims on more than one property while searching for the best one. The deposit isn’t a legal requirement so any amount will do.
If the purchaser cannot give you the full deposit at the time of signing, you can agree to accept several hundred dollars and include a clause which states that the deposit will be increased to a specified amount within 24 hours (or whatever you have decided). This will allow for the purchaser to make financing arrangements before placing the full deposit. If you feel the reason is sound, take the offer. You may not get a better one.
Obviously the buyer does not want their money tied up in case the financing doesn’t come through. If it doesn’t work out they will need the money to place an offer on another property but you shouldn’t give them too much time or they may back out for any reason.
Booking Appointments
Having an Open House
Final Preparation
Financial Assistance
What Not to Do
Dealing with Negative Comments
How to Talk to Prospects
Negotiating
Getting the Offer on Paper
How Much Should the Deposit Be