Taylor Morrison Earnest Money

Hey everyone. Considering buying a new home from Taylor Morrison but they require 10% of the purchase price as the initial/earnest deposit. Is this normal? I think it’s far too high for earnest money. Usually I’ve seen 1% of purchase price in this range but 10% is crazy to me. I plan to put 20% down anyway but I don’t feel comfortable putting half of that upfront just to secure the house. That’s like $70k. Am I overreacting and this is just the norm?

submitted by /u/Nerdahan
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