The question comes up a lot, how big a real estate deposit is needed to hold the property?
The one the out of state buyer really is interested in but can not just drop everything to trot up the pike to see it in person. That is one reason we shoot, edit, upload real estate videos so there is not lacking the show and tell property information that makes it necessary to do the expensive travel. Each time something good comes up for the property buyer to consider one by one spaced out over time.
Holding the property is not in the best interest of the seller of real estate.
Because someone else that is ready to buy is held off until the out of town, gotta come see it buyer gets here and decides to buy or not. With a deposit, a signed contract contingent upon personal inspection it creates a log jam stop on the marketing availability of the listing. Until he decides to buy or not. And you the agent can scream "Next".
He may never get here. Or come up and decide this is not something he will buy. Or he likes the property but not what is around it or the community where it is located that takes time when the property is put on hold while he clears his schedule to check it all out.
Plane tickets, paying for motels, the tolls traveling and eats on the road. They all cost money and take time out of a person's life. We get that but put anything on layaway, telling future buyers the place has a hold on it. Hurts the seller. That is not what other buyers in line want to hear and they don't hang around wasting precious time on property that may or may not be sold.
Lost opportunities to selling happen when a previous buyer who was not ready to becomes in a position to proceed with a purchase.
But is held off because someone has a first right of refusal to buy. So taking a deposit contingent on a long time getting here or a slew of contingencies is not the wise course of action. Because this buyer has loose ends, is not ready, willing and able to buy today.