Legal Question in Real Estate Law in Indiana

what is a fair price for earnest money on a new townhome built to order of 160,000?

Also, if I signed and initialed a purchase agreement but did not give any earnest money to seller/builder can I cancel the contract within 72 hours?


Asked on 10/07/10, 12:44 pm

1 Answer from Attorneys

A fair price is what two people will agree to. I have seen them as low as $500 and as high as $10,000 on that amount, give the lowest that you both can agree to. If the seller/builder did not come to your home, no.

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Answered on 10/12/10, 2:09 pm


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