How much earnest money did Mary place with the broker?

In real estate transactions, earnest money serves as a deposit made by a buyer to demonstrate their seriousness and commitment to purchasing a property. The amount of earnest money can vary based on many factors such as market conditions and the agreed-upon terms in the sales contract. The choice of $2,500 as the amount of earnest money indicates a balance between showing a good faith effort to buy the property without being excessively high.

In this scenario, $2,500 is a reasonable figure, as it typically represents a common percentage of the purchase price or adheres to regional practices regarding earnest money deposits. Such an amount can help instill confidence in the seller while still allowing the buyer to manage their financial commitments wisely.

Understanding the significance of earnest money and its typical ranges can help realtors guide their clients more effectively through the buying process, ensuring a solid commitment that protects both parties in the transaction.