Earnest Money Calculator
Enter the property price and earnest-money percentage to compute the deposit payable, and the remaining down payment after deducting it.
Input Data
Results
At a glance:Earnest money (good faith deposit) is a deposit paid when making an offer, showing serious intent; at completion it is usually credited to the down payment. Formula: earnest money = price × percentage%. In Hong Kong, buyers typically sign a provisional agreement and pay the initial deposit (initial deposit, ~3%–5%), then top up to the main deposit (main deposit, ~10% total) at the formal agreement. The calculator deducts it from your planned down payment to show the remaining gap.
Formula
Earnest money = price × earnest %.
Planned down payment = price × down payment %.
Remaining down payment = planned down payment − earnest money.
$$E = P \times e\%$$$$R = P \times d\% - E$$How to Use
- Enter the property price.
- Enter the earnest-money percentage (HK initial deposit ~3%–5%).
- Enter the planned down-payment percentage to see the earnest money and remaining gap.
Case Studies
Down payment and deposit for a HK$6M flat
Price HK$6,000,000, initial deposit 5%, planned down payment 30%.
Earnest money = 6,000,000 × 5% = HK$300,000; planned down = 1,800,000; remaining = 1,500,000.
Budget the HK$300,000 immediate cash and the HK$1,500,000 still due before completion.
Topping up to the main deposit
HK$8,000,000 property: initial deposit 5% (HK$400,000) at provisional, top up to 10% (HK$800,000) at formal agreement.
Another HK$400,000 is due at the formal signing; the 10% counts toward the down payment at completion.
If a buyer withdraws without protection, the deposit is usually forfeited and may owe the difference — confirm terms before signing.
FAQ
How are Hong Kong deposits usually split?
Buyers sign a provisional agreement and pay the initial deposit (initial deposit, ~3%–5%), then top up to the main deposit (main deposit, ~10% total) at the formal agreement. Earnest money counts toward the down payment. Actual ratios follow the contract.
Does earnest money count toward the down payment?
Yes. At completion the paid deposit is credited to the down payment or price, so the calculator deducts it from your planned down payment to show the remaining gap.
Is the deposit forfeited if I withdraw?
Usually. Without contract protection, a withdrawn deposit is generally not refunded and may owe the seller damages. Refundability depends on the contract; review it and seek advice before signing.
Is earnest money separate from stamp duty and legal fees?
Yes. The deposit (and main deposit) is part of the price and counts toward the down payment; stamp duty (AVD), legal fees, agency commission and mortgage arrangement fees are extra transaction costs not included. Budget all of them together.
How long until completion after paying?
Per the provisional and formal agreements. Hong Kong secondary residential deals usually sign the formal contract within ~14 days of the provisional, and complete (settle the balance) ~6–8 weeks from the provisional. Arrange mortgage approval and funds in that window to avoid withdrawal risk.
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References
Content review: Calculatorism Finance Team. Results are for reference only; please refer to the relevant authorities for the official figures.