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Offer Deposit


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#1 rambaldi

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Posted 05 September 2016 - 05:17 PM

What's the value of a typical offer deposit for a single family home nowadays?

 

How much wiggle room is there for the offeror in getthing their deposit back? (i.e. how bad does the inspection have to be?, etc.)

 

 

Thanks



#2 LJ

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Posted 05 September 2016 - 08:47 PM

You can pretty much always get your deposit back. Put in "subject to financing" and you are golden. Any discovery on the the inspection, no matter how small gives you three choices, have the owner fix it, accept it or walk away from it.


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#3 LeoVictoria

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Posted 05 September 2016 - 11:11 PM

Yeah as long as you have one subject to clause you can basically walk for any reason before the time limit.

#4 MarkoJ

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Posted 06 September 2016 - 08:28 AM

Yeah as long as you have one subject to clause you can basically walk for any reason before the time limit.

 

Pretty much. For example, when people collapse an offer on financing more than half the time they just got cold feet.

 

That is why in bidding situations sellers take a lot less when they have an unconditional offer at hand.  This spring I regularly saw sellers taking 50k lower on unconditional offers vs the highest conditional (all offers over asking).  Obviously if you had a home listed at a million and there is conditional for 995k and unconditional for 950k the conditional one has a better chance.  But if you are at a million asking and you have 1.2 unconditional and 1.25k conditional most people take the 1.2 and run.

 

Deposit usually 10 to 20k on 600k home and 20 to 40k on $1 million.


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2018 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#5 DavidSchell

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Posted 06 September 2016 - 09:13 AM

 

Deposit usually 10 to 20k on 600k home and 20 to 40k on $1 million.

 

 

We put down $50K on a $1.45 million purchase and the people who bought our house for $1.2 million, put down $70k.



#6 MarkoJ

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Posted 06 September 2016 - 09:44 AM

We put down $50K on a $1.45 million purchase and the people who bought our house for $1.2 million, put down $70k.

 

That's a good way too go when buying/selling.  I always encourage people selling then buying to have the same or lower deposit on the purchase.  Less risk if the buyer on the sale doesn't complete the transaction and you can't complete the purchase.


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2018 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#7 MarkoJ

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Posted 12 September 2016 - 12:51 PM

Mon Sept 12, 2016 – 9:00am:

Sept Sept
2016 2015
Net Unconditional Sales: 241 704
New Listings: 363 962
Active Listings: 2,061 3,478

Please Note
Left Column: stats so far this month
Right Column: stats for the entire month from last year


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2018 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


 



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