What is the minimum amount to put down as a binder in NY?

Question

Looking at a house for $80,000. What is the least I can put down to take it off the market while I negotiate price and financing?

Answer 1

you should put down 20 % down payment - showing that you a  serious buyer ...

Answer 2

Sorry the house is still available for sale until you put down your 20% and sign the contract.  A binder does nothing but put you first in line unless the second buyer offers to pay more.  It is called bidding wars

Answer 3

.    I sometimes tell sellers that i will give them $100 if they will take the sign down for 2 days.  

But if you mean "what do i include with my offer?"  then you want it to be as small as possible.  Or you can give them zero until the inspection is over (what's the point of writing a check if you can back out for 10 days) and then you will give them $500.