Do we have to give the full Downpayment to go into escrow at contract signing? Or can we give half at contract and half at closing? We said we would give a certain percentage as DP so can we break it up?
blushingbride2003
Posted:
Member since
Re: Contract Signing
I think you can give half during contract and the remaining at closing. We said we would be giving 20% for the DP (we'll be giving more though) so we ended up giving 10% during contract to be put into escrow and the remaining we will give at closing.
kissy27
Posted:
Member since
Re: Contract Signing
When signing the contract, we gave them $25K & we are putting down a little more then $150K
cjb88
Posted:
Member since
Re: Contract Signing
we are putting down half of our down payment at contract (tomorrow!!!!) and the other half at closing...
patti08
Posted:
Member since
Re: Contract Signing
I think it depends on your offer. We offered XX% down and for a portion (the majority) of that at contract the balance (in cash or cert check) at closing.
KimberlyBride
Posted:
Member since
Re: Contract Signing
When you create the offer you tell them what you will be putting down at signing. We put 5% down at signing and the other 15% at closing. It is up to you unless you are buying a co op and they state what is needed at signing.
IrishBride-05
Posted:
Member since
Re: Contract Signing
As everyone says it's up to the seller what they will accept in your offer. We put down only 3% at contract and the rest of the 20% at closing. The buyer of my co-op put down his full downpayment at contract.
If you can get the seller to agree to a smaller deposit, it is better for you should anything (God forbid) go wrong.
