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Old 08-19-2012, 06:54 PM
 
302 posts, read 590,750 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
22,669 posts, read 36,804,509 times
Reputation: 19886
Half your down payment.
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Old 08-19-2012, 07:12 PM
 
Location: Long Island
9,933 posts, read 23,158,205 times
Reputation: 5910
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 483,328 times
Reputation: 86
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 3,580,534 times
Reputation: 400
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
3,351 posts, read 9,761,758 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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