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Old 08-19-2012, 06:54 PM
 
294 posts, read 477,959 times
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I know it's negotiable but is there a standard amount at contract signing?
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Old 08-19-2012, 06:58 PM
 
Location: under the beautiful Carolina blue
14,988 posts, read 22,822,332 times
Reputation: 10941
Half your down payment.
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Old 08-19-2012, 07:12 PM
 
Location: Long Island
8,945 posts, read 17,909,881 times
Reputation: 4654
No, there is no standard amount.

Many sellers' attorneys look for 5% of the purchase price at contract signing, but that doesn't mean that's where it ends up, especially if a buyer is going the 3.5% down route with an FHA mortgage...
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Old 08-19-2012, 07:51 PM
 
Location: Bellmore
247 posts, read 385,854 times
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My seller's attorney asked for what calculated to 4.72%.
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Old 08-20-2012, 05:59 AM
 
903 posts, read 2,926,446 times
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WHen we just bought we put down 5% to seller-our buyers gave us about 7% down.
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Old 08-20-2012, 08:38 AM
 
Location: East Northport
3,152 posts, read 7,943,216 times
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There is no "standard amount". If someone is going for an FHA loan with a 3.5% down payment I always push for the full amount at contract. Otherwise, I like to see half of the total at contract. The greater amount you put down at contract the more secure the seller will feel, making your offer stronger then others may be.
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