WHAT IS A REASONABLE earnest money amount for a 12 unit apt. building selling for about $530000?
The size of the original earnest money deposit will be suggested by the offeror (the buyer) Mark, THE Realtor who is YOUR listing Realtor, could suggest a minimum earnest money deposit in her / his MLS comments. Those comments would likely have little influence over what the buyer decides to offer. The buyer will likely choose to offer an earnest money deposit that they are comfortable offering and upon the advice of the BUYERS AGENT. Typically buyers, even on commercial purchases, will offer a very small initial deposit. If you believe that the initial deposit offered is too low, you can instruct your Realtor to write an increased deposit into the counter offer. The increased deposit (s) can be requested (1) At the the acceptance of the offer. or (2) at some specified date after the escrow period has began such as 7 days after acceptance or (3) at some specified event that occurs during the escrow such as the removal of an inspection contingency. I don’t think you should take the advi
