There are some great tools for webmasters to check what web surfers are really searching for. With the busy spring season for Scottsdale real estate ahead of us, it seems like buyers and sellers are wondering what constitutes a low earnest money amount or if there is an average in the Valley area.
Because the Greater Phoenix area is so large there are really no earnest money rules. Scottsdale real estate agents still write contracts with earnest money as low as $1,000. This is usually for purchases in the $100,000's. Once a buyer purchases a more expensive property, the expected earnest money is higher.
When I lived in Illinois, I was surprised to find out that the average Chicago earnest money amount was around ten percent of the contract…
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