The amount of earnest money deposits for real estate in Charlotte NC are always, always, always negotiable between buyer and seller. The amount of earnest money is always a negotiation point that both buyer and seller must agree on.
For a $100,000 purchase price the earnest money deposit buyer/seller agree on probably won’t be the same as for a $1 million purchase price but regardless, the amount is a term that buyer and seller must agree on and be comfortable with.
As for when an earnest money deposit is paid, a copy of the earnest money check should accompany the offer to purchase Charlotte NC real estate. Once there’s a valid contract agreed upon and signed by all parties, the earnest money is deposited in a trust account to be held until closing. So buyers should be ready to write the earnest money check at the time they sign an offer and it (or a new check for the agreed upon amount) will be deposited in a trust account once there’s a written contract.
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Copyright©2009 by Diane McDermott, All Rights Reserved, “Earnest Money Deposits – How Much and When?”