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How Much Earnest Money Is Normal? Earnest Money Deposit Mistakes

Realtor.com

How much earnest money is normal? Here are eight mistakes with earnest money deposits that home buyers often make and how to avoid them. The post How Much Earnest Money Is Normal? Earnest Money Deposit Mistakes appeared first on Real Estate News & Insights | realtor.com®.

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3 Times Your Earnest Money Deposit Could Be At Risk

Dwell Real Estate

The earnest money deposit—the cash you as a buyer offer to essentially call dibs on real estate—is one of the most important (and often misunderstood) parts of the home-buying process. In the Sarasota area, home buyers will usually put down anywhere from 1 to 5 of the real estate purchase price as earnest money. (If

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3 Times Your Earnest Money Deposit Could Be At Risk

Dwell Real Estate

The earnest money deposit—the cash you as a buyer offer to essentially call dibs on real estate—is one of the most important (and often misunderstood) parts of the home-buying process. In the Sarasota area, home buyers will usually put down anywhere from 1% to 5% of the real estate purchase price as earnest money. (If

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What is a home appraisal gap?

Housing Wire

Specifically, they want to be sure it’s worth the money they’re lending you and, most importantly, that they’ll recoup their investment if you default on the loan. In this situation, your lender approves your loan amount without much hassle. When this happens, your lender will only loan you up to the appraised value.

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What Does Removing the Loan Contingency Mean for Homebuyers?

HomeLight

If you’ve been shopping for a home, you’ve likely come across the term “loan contingency,” and you may be considering including this clause in your purchase offer. Or perhaps you’ve already made a loan-contingent offer, and you’re wondering about contingency removal. What is a loan contingency?

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What Is a Mortgage Contingency? Purchase Offer Protection

HomeLight

Perhaps the biggest gear that needs to turn in your favor is the mortgage loan. A common worry among homebuyers is to find the perfect house, put down a deposit with an accepted offer, and then learn that your mortgage application is denied — you lose both the house and your earnest money.

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Should I Waive the Mortgage Contingency in My Offer?

HomeLight

It stipulates that the offer to purchase a home is contingent upon your ability to secure a mortgage loan. This means that if you are unable to obtain the full and proper financing within a specified period, you can back out of the deal without penalty, which in most cases means you can retain your earnest money deposit.