Purchase Agreement deposits

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A deposit would have no effect on the way this worked out

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Not saying it would have. It does however cause me to believe they are completely broke. Which begs the OP, is a zero deposit situation normal/common in today's market?

She told my mother, unknown to me, that it was "normal". I would have asked for $500-$1000 minimum, as I have always been asked.

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What was the repair request and how was it crazy?

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Short version: House was discounted for older roof and HVAC. Post inspection they want them replaced, but at same discounted price. Not today.....

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got mad at an agent for convincing my mother to accept a purchase agreement where the buyers asked for no deposit. Agent told my mother this was normal, but I've never had a transaction without deposit. Buyers subsequently had a crazy repair request, and I convinced my mom to walk.

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Agent here, how much was the house selling for?

That’s super strange, there are tons of bad agents out there, as much as it’s hard to believe that the listing agent accepted it, it’s crazy the buyers agent wrote that. If they actually did inspections, I assume they were dealing in good faith, but that’s super suspect. Only guess I can even venture is the person writing the offer put offers in on multiple houses and didn’t want to be out at money even briefly. You have every right to be furious with the listing agent. Was the house over $250k?

Deposits are dumb unless it’s sizable. I see so many people that do $500-1k deposits on a 300-500k house. Everything has gone up in the past 20 years except deposits. 500 or 1k isn’t going to keep someone on the hook. I would be looking much harder at the lender on the file over if there is a deposit or not.

It’s still currently a buyers market so I wouldn’t kill a deal over a deposit.

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I got mad at an agent for convincing my mother to accept a purchase agreement where the buyers asked for no deposit. Agent told my mother this was normal,

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Markets change. Normal from 20-22.

Not today.

How many showings? How long has it been on? How many offers. All of this factors in.

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Buyers subsequently had a crazy repair request

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Deposits are paid after inspection phase usually on a resale home. Meaning, getting one wouldn't have mattered.

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and I convinced my mom to walk.

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Why weren't you in the conversation when the offer arrived if you're NOW a decision maker?

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but I've never had a transaction without deposit

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Your transactions in the past have zero impact on this particular deal.

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So I came here making sure I wasn't out of line for being highly perturbed by this agent..... who is supposed to have my mother's best interest.

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According to your post, you are the deal killer here.

You didn't counter their repair requests? That's a normal part of any transactions.

What were the crazy requests?

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Deposits are paid after inspection phase usually on a resale home. Meaning, getting one wouldn't have mattered.

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Real estate laws vary in different states, but in Louisiana the deposit is due no later than 72hrs after a purchase agreement is signed.

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According to your post, you are the deal killer here. You didn't counter their repair requests? That's a normal part of any transactions. What were the crazy requests?

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All of this is immaterial, some buyers are absurd in their inspection requests. He’s upset bc the listing somehow thinks no deposit is perfectly fine, which it isn’t.