What is the customary Earnest Money deposit?
In the Bitterroot Valley market place, earnest money negotiated in conjunction with purchase agreements tends to be rather low as compared with other areas and other states. Earnest money can range from as low as $1,000.00 to $10,000.00 or more depending upon the asking price of the property. Earnest money is placed in a State approved Trust Account with either the Broker or Title Company and is held until all the conditions of the Buy/Sell Agreement have been either waived or satisfied.
