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Just a quick question about putting a binder on a house

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Bri
I Love You to Pieces!

Member since 5/05

9919 total posts

Name:
Brianne

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

Posted 4/2/06 1:51 PM
 
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BabyBoy
is Skylar Elizabeth

Member since 5/05

4189 total posts

Name:
Tom

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.....

Posted 4/2/06 2:01 PM
 

Tah-wee-ZAH
Kisses

Member since 5/05

15952 total posts

Name:

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.

Posted 4/2/06 2:49 PM
 

julz33
i run for bacon

Member since 5/05

20584 total posts

Name:
julz

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 doChat Icon

Posted 4/2/06 4:11 PM
 

nov04libride
big brother <3

Member since 5/05

14672 total posts

Name:
Me

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 doChat Icon



Us too.

Posted 4/2/06 4:13 PM
 

MrsERod
Praying for Everyone.

Member since 5/05

26170 total posts

Name:
MrsERod™®

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 $$ down at contract (10-15K).....
this way, the seller knows your serious about buying and are less likely to back out of the contract, thus forfeiting the $$$.

Posted 4/2/06 4:16 PM
 

Redhead
You Live, You Learn

Member since 5/05

31871 total posts

Name:
Jennifer

Re: Just a quick question about putting a binder on a house

squeeze me...do you have something to tell me?

Posted 4/2/06 4:18 PM
 

MrsERod
Praying for Everyone.

Member since 5/05

26170 total posts

Name:
MrsERod™®

Re: Just a quick question about putting a binder on a house

Posted by Redhead

squeeze me...do you have something to tell me?




Chat Icon Chat Icon Chat Icon

Posted 4/2/06 4:19 PM
 

Bri
I Love You to Pieces!

Member since 5/05

9919 total posts

Name:
Brianne

Re: Just a quick question about putting a binder on a house

This question is actually for someone else - NOT us.

Posted 4/2/06 6:56 PM
 
 

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