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Bri
I Love You to Pieces!
Member since 5/05 9919 total posts
Name:
Brianne
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Just a quick question about putting a binder on a house
Just wanted to know how much money one is asked to put down as a binder on a house currently. TIA
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Posted 4/2/06 1:51 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: Just a quick question about putting a binder on a house
it really depends on bank, seller and what you have...had it been my way, i would of put nothing down but we came up with 15k which hurt us alot.....
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| Posted 4/2/06 2:01 PM |
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Tah-wee-ZAH
Kisses
Member since 5/05 15952 total posts
Name:
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Re: Just a quick question about putting a binder on a house
Usually it's a minimum of 10K at contract, for many smaller houses. The seller's lawyer might counter with 20K or more. Our house was over 500K and they wanted 20K at contract. Sellers also want to know what type of terms you are coming in with because it's not uncommon that buyers are over extending themselves and pulling out of contracts which is a nightmare for sellers. I was warned about this when we sold.
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| Posted 4/2/06 2:49 PM |
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julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
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Re: Just a quick question about putting a binder on a house
We only paid $1000 at contract and then paid the rest of the 20% down at closing. I thought this was normal, but I could be wrong. This is what our RE Agent told us to do
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| Posted 4/2/06 4:11 PM |
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nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
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Re: Just a quick question about putting a binder on a house
Posted by julz33
We only paid $1000 at contract and then paid the rest of the 20% down at closing. I thought this was normal, but I could be wrong. This is what our RE Agent told us to do
Us too.
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| Posted 4/2/06 4:13 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: Just a quick question about putting a binder on a house
if its a house a buyer really wants, it is always best that they put a nice little chunk of $$ down at contract (10-15K).....
this way, the seller knows your serious about buying and are less likely to back out of the contract, thus forfeiting the $$$.
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| Posted 4/2/06 4:16 PM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: Just a quick question about putting a binder on a house
squeeze me...do you have something to tell me?
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| Posted 4/2/06 4:18 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: Just a quick question about putting a binder on a house
Posted by Redhead
squeeze me...do you have something to tell me?
  
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| Posted 4/2/06 4:19 PM |
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Bri
I Love You to Pieces!
Member since 5/05 9919 total posts
Name:
Brianne
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Re: Just a quick question about putting a binder on a house
This question is actually for someone else - NOT us.
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| Posted 4/2/06 6:56 PM |
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