down payment - when did you pay it??

bird Posted: Jul 16, 2004 12:27 AM

down payment - when did you pay it??

Do you pay the full down payment amount at contract??? Is that the norm??? Or do you pay half at contract and half at closing - or the whole payment at closing???? Thank you in advance???

AtticaQT Posted: Jul 16, 2004 12:42 AM

Re: down payment - when did you pay it??

We paid 10% at contract signing - remainder which is another 15% at closing - our coop board requires 25% down

fallinlove04 Posted: Jul 16, 2004 05:47 AM

Re: down payment - when did you pay it??

we are paying 5% today when i drop off the signed contract.

jms100303 Posted: Jul 16, 2004 09:29 AM

Re: down payment - when did you pay it??

Usually it is in your contract how much you will put down when signing. I know this was a big thing when we made the offer. We agreed to put 5% down on contract, supposedly that was really good.