| ss="articletext"> | | | | some extent, has the financial capacity to follow |
| In a real estate transaction, a touchy issue is how | | | | through on the purchase. |
| much trust the seller has in a buyer. The existence of | | | | The amount of the good faith deposit is dependent |
| a good faith deposit helps put a seller at rest. | | | | upon the agreed sale price of the real estate. |
| Good Faith Deposit | | | | Although percentages vary from state to state, a |
| If you are selling your home, condominium or other | | | | cash deposit equal to three percent of the sales price |
| real estate, you should always require a buyer to | | | | is typical. For instance, the deposit would be $9,000 |
| make a good faith deposit. The good faith deposit | | | | for home selling at a price of $300,000. As with most |
| simply establishes that the buyer is serious and, to | | | | transactions, this percentage is negotiable. |