How much of a deposit is legally required?

This week’s post will be short and sweet, because the answer is 0. You technically don’t have to put down a deposit at all; the contract is binding as long as you will be paying something at the time of closing. However, most sellers will not accept an offer unless you are paying some sort of deposit. The amount varies by region, with more expensive cities generally having higher value deposits, but most often it is tied to the price of the home. The right amount is whatever the seller will accept.