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In any event, the contingencies typically have a time period requirement. Before that period expires, the buyer can cancel the deal and get their earnest money back, but after that period, the earnest money is deemed to ?go hard? and be nonrefundable to the buyer if they don't close on the transaction.

On average, an earnest money deposit ranges between 1%-3% of the property's purchase price. Before you decide on an amount, talk with your real estate agent ? they'll be able to assess the property and any market-specific factors.

In most real estate markets, the average good faith deposit is between 1% and 3% of the property's purchase price. It can be as high as 10% for highly competitive homes with multiple interested buyers. Some sellers prefer to set fixed amounts to help filter out buyers that aren't serious.

Idaho does not offer a statutory form for a deed. Common deeds in this state are the warranty deed and quitclaim deed. A warranty deed includes covenants of title while a quitclaim deed does not. Any person, whether citizen or alien, can take, hold, and dispose of real or personal property in Idaho (55-103).

You do not necessarily need to put forth earnest money for an offer, there is no law in Idaho preventing a buyer from making an offer without earnest money included.

Except as otherwise provided in this section, all entrusted funds received by a broker in connection with a regulated real estate transaction, including, but not limited to, earnest money, shall be deposited into a real estate trust account maintained by the broker at an approved depository.