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Reply to "How common is it to put 5% down on a house?"
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[quote=Anonymous][quote=Anonymous]I know lots of folks who have done it in other cities, but I have a hard time imagining it working in a hot market like DC and the close-in suburbs. My impression is that sellers like to see more down, because it suggests more financial security and less likelihood that the deal will fall through. So, if you are in a market where multiple offers are a certainty, I could see losing repeatedly on financing alone. [/quote] I bought several years ago and maybe I've forgotten, but when do the sellers see what you've put down? I know they know how much earnest money, but I thought I finalized my down payment amount after the offer was accepted. Or have I blocked out the details of this process?[/quote]
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