How much earnest money do I need in Florida?

Earnest money in Florida typically runs 1% to 3% of the purchase price, though it's negotiable and rises in competitive situations. On a $400,000 home that's roughly $4,000 to $12,000.

The deposit is held in escrow and credited toward your down payment and closing costs at closing. With contract contingencies intact, it's refundable if the deal falls through for a covered reason. We'll advise an amount that's competitive but protected.

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