I am dealing with a broker who is pushing for a large deposit (5-10%) to accompany an LOI. This seems unusual to me--in other potential deals I have submitted LOIs with no deposit and then had a 30-day exclusivity period to start working on the major due diligence and start drafting a P&S.

I would love to hear thoughts from others on whether asking for a deposit to accompany an LOI is customary.

Many thanks.