TIC Deposit for new home?

[aquabliss]

Anyone know what TIC deposit is now days for new homes?  Does it vary by builder?

A friend of mine put a deposit down over the weekend and they asked for $35k... I told him I thought it was only a $10k deposit but I hadn't been in the market for a few years. 

This just holds his spot and he has selected the lot and gone under contract.  Just starting to make arc decisions but lot is still dirt right now.

 

[Burn That Belly]

x

 

[aquabliss]

hmmm ok, I thought $35k seemed high as well... He is buying in PS5, or whatever they call that new enclave up the hill.

 

[Burn That Belly]

x

 

[marmott]

$20K for a SFH in PS5.

 

[Jantoven]

hmmm ok, I thought $35k seemed high as well... He is buying in PS5, or whatever they call that new enclave up the hill.

I believe it is builder specific.  I think Juniper is around 30-35k?

 

[aquabliss]

hmmm ok, I thought $35k seemed high as well... He is buying in PS5, or whatever they call that new enclave up the hill.

I believe it is builder specific.  I think Juniper is around 30-35k?

Bingo...

 

[Jantoven]

hmmm ok, I thought $35k seemed high as well... He is buying in PS5, or whatever they call that new enclave up the hill.

I believe it is builder specific.  I think Juniper is around 30-35k?

Bingo...

Did your buddy go for one of those view lots?  Maybe the view lots require a larger deposit.

 

[aquabliss]

hmmm ok, I thought $35k seemed high as well... He is buying in PS5, or whatever they call that new enclave up the hill.

I believe it is builder specific.  I think Juniper is around 30-35k?

Bingo...

Did your buddy go for one of those view lots?  Maybe the view lots require a larger deposit.

No, it has a corner lot premium but not a view, those are all reserved he said.

 

[Burn That Belly]

x

 

[Jantoven]

hmmm ok, I thought $35k seemed high as well... He is buying in PS5, or whatever they call that new enclave up the hill.

I believe it is builder specific.  I think Juniper is around 30-35k?

Bingo...

Did your buddy go for one of those view lots?  Maybe the view lots require a larger deposit.

No, it has a corner lot premium but not a view, those are all reserved he said.

Ah okay, I gotcha.  Congratulations to your friend

 

[eyephone]

Me thinks there have been a couple of folks who have buyers remorse. TIC asking larger deposit to ensure you're more committed and you aren't going to walk away. Only extenuating circumstances will you get the deposit back.

Come on, all it takes is letterhead.