Orlando Real Estate, Orlando Buyers Agent, Orlando Homes, Orlando Buyers Broker: Is $500 Real Estate escrow deposit good enough for Orlando Home Buyer?

Is $500 Real Estate escrow deposit good enough for Orlando Home Buyer?

Is $500 Real Estate Escrow deposit good enough for Orlando Home Buyer? 

One of my Orlando Real Estate Home Buyers just gave me a real hard time about the Escrow Deposit for buying a Condo in Orlando, as we were going to write up an offer. Buyer thinks that escrow deposits are not an important part of negotiating real estate and $500 is a "good enough" for a total Real Estate Escrow depositYes, A Real Estate Escrow Deposit is also called a Real Estate Earnest Money Deposit and it is "good faith" money deposited in an escrow account that shows the seller that buyer sincerely wants to buy the property.  The Escrow deposit remains the Buyers Real Estate Money and credited to buyer at closing.Buyer with his escrow deposit

Here's the Real Estate $500 Escrow Deposit Story...The Buyers  selected Condo community only has 14 units for sale, of which only 4 are on the first floor... the floor that buyer must have and wants furnished...none of which are furnished.  Buyer found fault with all of the units available.

I worked like a fool and found an "unlisted-for-sale" unit that an agent had as a rental, and her seller was willing to sell...no foreclosure or short sale...what luck! 

WOW!  First Floor unit FURNISHED! Good Location! and CHEAP!!  The seller was willing to sell it for an absolute bargain...there was NOTHING around priced that low!  Buyer commented "For that price, the condo unit is a steal!!" 

Yes, the Real Estate Property was a steal...

But instead of grabbing this absolute "steal" the buyer decides to offer less and only put $500 down as the total escrow.  Since this was a cash deal, sellers agent wanted 10% in escrow.  Buyers wife said that $500 was good enough...and decided to withdraw the offer and stopped payment on the $500 check...(like what, I was going to try to cash it?)


  • If an Orlando Home Buyer is serious, they need to prove it with a decent deposit.
  • If an Orlando Home Buyer's offer is low, they need to try to balance it out with a higher deposit.
  • If an Orlando Home Buyer is committed to buying the property, the deposit will be credited at closing.
  • If an Orlando Home Buyer's escrow deposit is not competitive, they will not snag the property.
  • If an Orlando Home Buyer has an opportunity to get a "steal" they need to grab it while they can.

Real Estate Escrow deposits will vary by the State, the City, Cost of the Real Estate Property, and the seller requirements. Any home buyer that thinks that a  $500 Real Estate Escrow deposit is "good enough" for Orlando will not be considered a credible buyer.  What do you think?

For excellent Real Estate advice or to discuss your best options, call Buyers Broker of Florida 407-539-1053

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Representing ONLY the best interest of the Home Buyer...never the seller.

 Eve Alexander Orlando Buyers Agent


Comment balloon 5 commentsMike & Eve Alexander • June 28 2012 01:08PM


$500 is walking away money which defeats the purpose of the Earnest Money Deposit.

The only time we have such low EMD is for VA buyers where their final out of pocket is expected to be $00.00.  However, even then, most builders and smart listing agents will want a "Confessed Judgment Note" for more.

About 15 years ago, I had a VA buyer refuse to provide any EM.  His contract went nowhere and I went home.

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) over 6 years ago

The escrow deposit is certainly negotiable I guess this buyer didn't want the property bad enough if they didn't want to meet with the seller on the escrow.

Posted by Pat Champion, Call the "CHAMPION" for all your real estate needs (Coldwell Banker Camelot Realty) over 6 years ago

Lenn:  You said that perfectly!

Pat:  You are right.  They were foolish to be so fixated on "getting their way" that they are not getting the property that fit their needs.

Posted by Mike & Eve Alexander, Exclusively Representing ONLY Orlando Home Buyers (Buyers Broker of Florida ) over 6 years ago

Thank you for sharing your blog; we need Real estate Professionals to share their comments and information regarding their markets and experiences. Thanks again from beautiful Sunny San Diego

Posted by Paul Gapski, 619-504-8999,#1 Resource SD Relo (Berkshire Hathaway / Prudential Ca Realty) over 6 years ago

thank you Paul, it is nice to hear from someone in a sunny state

Posted by Mike & Eve Alexander, Exclusively Representing ONLY Orlando Home Buyers (Buyers Broker of Florida ) over 6 years ago