Whats the typical new build escrow in Central Virginia?

Home Forums Purchase Program Whats the typical new build escrow in Central Virginia?

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  • #66361
    coquipr79
    Participant

    Hello. I am trying to get a sense of what the typical escrow deposit would be in a central Virginia new home build. I am unable to go with my realtor for about a month (I’m early in the process) but would really like to have an idea on this. Any input would be greatly appreciated!

    #66362
    Nelsont
    Member

    Every builder will have their own requirements.Typical for any home in any market new or preexisting will generally be 1-3%. Hot markets may “require” more not in writing but only because if you don’t escrow more than the required amount you have a chance of having another buyer offering cash or considerably more escrow. I think it’s safe to say you will won’t be asked for more than 10000 cash in escrow unless you’re home is 400k or more and you will probably need at least a few thousand.

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