Good faith deposit?

Question

we are looking into renting this home. wanting to give a good faith deposit to hold the hous euntil all paperwork is complete. how should i word this and how much. do we all need to sign something.

security is 700.00. so will this be going towards it? how much should i give?

Answer 1

Is the owner asking for an amount?  If not, it's up to you.  You can offer the money as a deposit to reserve the home pending acceptance.  Make sure to specifically mention that if the application or lease is not executed, the deposit will be returned within 5 business days, or something like that.

Answer 2

Try to get them to accept $300.  See what they say.