Orange County Information Center - Home Buying

What is a good faith deposit?

Alternatively, when your home is listed in the Multiple Listing Service, you can specify that your home is available for viewing by appointment only and provide the telephone number agents should call to schedule an appointment.

The amount of the good faith deposit is not set by law. However, it should be at least a few thousand dollars or more, depending on the sale price of your home. The higher the sale price, the more you should ask for as a deposit. The average good faith deposit is $5,000.

Once escrow has been opened, the good faith deposit must be given to the escrow company.

Warmest Regards,

Marla Silva
Orange County Real Estate Advisor

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