Ask Question
24 June, 22:11

2 of 15 - Seller David requires a 4% deposit on all offers. Buyer Jack wants to offer $115,000 for the property. The property was appraised at $122,000. What must the earnest money deposit be if Jack presents his current offer?

+1
Answers (1)
  1. 25 June, 00:08
    0
    Answer: The amount of the deposit is $4,600.

    Explanation: When a money deposit is required, the deposit is calculated on the potential buyer's offer, not on the asking price or the appraisal value. In this case, the buyer is making an offer of $115,000. The deposit is $115,000 x. 04 = $4,600.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “2 of 15 - Seller David requires a 4% deposit on all offers. Buyer Jack wants to offer $115,000 for the property. The property was appraised ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers