I am looking at a $95,000 house for sale, when I make an offer how much do you give for a binder?

Question

would 300.00 dollars be ok?

Answer 1

So much depends on the part of the country you are from. In the southeast $500 would be adequate.

Answer 2

You won't impress a seller very much with your interest if you give $300. The 'binder' varies from locale to locale. In an area near me, they won't consider anything less than 10% of the purchase price.

In my particular area, a 'binder' of $2000 would be acceptable on a purchase of $95,000.

Answer 3

Ten percent is usually acceptable. A $300 binder may not come across to the seller that you are serious.