Real Estate Agents usually ask for a large deposit when you sign a contract because they want as big of a commitment from you a possible.
However, you are entitled to put down whatever it is you like…
You’re not obligated to put down $10,000 or $20,000… Of course, however, if there are multiple offers the seller will likely take a stronger offer if there is one, therefore it could work against you if you put down a small deposit.
Off-Market however, I often only put down a $1,000 deposit which I transfer to my Settlement Agent’s trust account.
Funnily enough, seller’s never question the deposit I put down…
In saying that my offers are usually cash contracts; and I explain they are unconditional to the seller.
The reason for doing so is that I typically use money partners for my purchase, therefore I don’t want to outlay more than I have to.
