The Living Room

MAY 2, 2025

Consider flexibility on closing dates, a solid earnest money deposit, and minimal contingencies to appeal to sellers. Engage with your realtor to discuss potential homes critically and schedule viewings promptly to stay ahead in the fast-paced market.

Earnest money deposit

Redfin

JUNE 23, 2025

It’s a crucial period to verify the property’s condition, ensure it meets expectations, and meet any financing requirements set by the lender. In some states, buyers may also pay due diligence money—a non-refundable fee paid directly to the seller in exchange for this inspection window.

Due diligence

Redfin

AUGUST 5, 2025

Contingent offers protect your earnest money deposit In real estate transactions, once an offer is accepted, buyers demonstrate their seriousness by sealing it with a deposit of earnest money. Home sale contingency: This is used to provide a buyer with time to secure the sale of their current home.

Earnest money deposit

Redfin

JULY 30, 2025

Without a clear plan in place, you risk overcommitting yourself or falling in love with a home that stretches your finances too thin. This is more than just pre-qualification: It shows a lender has already vetted your finances. In the average market, a typical earnest money deposit is 1-3% of the home’s purchase price.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

Top Mortgage Blogs From 2017 Best Mortgage & Home Financing Blogs From 2017 We’re back! Below you’re going to find some incredible recaps of home financing and mortgage blogs that have been published during 2017. Check with your agent to determine how the latest guidelines apply to your situation.

Finance

Redfin

JULY 17, 2025

. >>Read: 5 Ways to Win a Real Estate Bidding War without the Highest Bid How does it differ from other offers Unlike an initial offer, which may leave room for negotiation, a best and final offer is meant to reflect the maximum price and best terms you’re willing to offer—including contingencies, closing timeline , and financing details.

Earnest money deposit

Redfin

JULY 14, 2025

Walking away from one could cost you your earnest money deposit (typically 1%–3% of the home price), and in some cases, you could even be sued for breach of contract. To protect yourself, work closely with your real estate agent to include appropriate contingencies and timing strategies so you’re not caught in a bind.

Earnest money deposit

Redfin

JULY 10, 2025

Whether earnest money is refundable depends on the contingencies in the purchase agreement. If the contract is canceled due to issues like a failed inspection or financing problems, the buyer typically gets the money back. >> Read: What Happens to Earnest Money as Closing? Is it refundable?

Due diligence

Redfin

JUNE 27, 2025

Mortgage pre-approval serves several purposes: Determines how much you can afford to borrow Signals to agents and sellers that you’re more reliable Expedites the mortgage application process Locks in an interest rate for that specific period Here’s what to do instead: Take the time to get pre-approved by a lender before starting your home search.

Pre-approval

Redfin

FEBRUARY 18, 2025

Specifically, it’s crucial to get a detailed breakdown of closing costs from your lender and/or real estate agent before closing. This is a huge advantage for buyers who may not have saved a large sum of money for a down payment. You can finance up to 100% of the appraised value of the home.

Closing costs

Redfin

JULY 21, 2025

Backing out without cause may result in losing your earnest money deposit. If you’re having doubts, want to reassess your finances, or simply change your mind, doing so before any paperwork is signed allows for a clean exit without risking earnest money or triggering legal consequences.

Earnest money deposit

Redfin

JULY 9, 2025

It’s also a good time to check your finances. Find a real estate agent Estimated time: 1-2 weeks A buyer’s agent is a licensed real estate agent who represents your best interests throughout the home buying journey. Ask for referrals from friends and family, read online reviews, and interview a few agents.

Pre-approval

Rochester Real Estate

NOVEMBER 5, 2015

Are your finances ready to buy a home, or will you be better off renting for a few more years? Hiring a Real Estate Agent When buying a property, the right buyer’s agent will save you time and, perhaps more importantly, money. (585) 704-7095 Contact Now Search Homes Home Fair Housing S.O.P.

Purchase and sale agreement

Redfin

JUNE 12, 2025

Work with your real estate agent to find out if your state or local laws allow for a contractual time limit, and how best to include it in your offer terms. Fewer contingencies: Too many contingencies (inspection, appraisal, financing) can make a deal feel risky. Your agent can reach out to the seller’s agent to ask for an update.

Earnest money deposit

Redfin

JUNE 30, 2025

Key takeaways: In most home purchases, the buyer’s agent delivers the offer to the seller’s agent, who then presents it to the seller If you don’t have an agent, you must submit the offer yourself—ideally with help from a real estate attorney. Buying with or without an agent changes how offers are made.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles Should I Waive My Home Inspection When Buying A House? They can be expensive to take care of, putting a huge hit on your finances. The home of your dreams may have some serious problems.

Inspection

Redfin

JULY 30, 2025

Speak with a real estate agent to help determine if you’re in a good position to begin the homebuying process. >>See: Pre-qualification: An informal lender evaluation of your finances, estimating affordability. Do I need a real estate agent? >>See: Is Now a Good Time to Buy a House?

Pre-approval

Housing Wire

SEPTEMBER 9, 2024

The new rules mandated by the National Association of Realtors’ (NAR) antitrust settlement are designed to encourage more negotiations for buyer agent commissions. That’s according to Redfin , which interviewed dozens of its agents about what they’re seeing on the ground in regard to buyer commission conversations.

Earnest money deposit

RIS Media

JUNE 3, 2024

Buying a home involves multiple steps, including providing an earnest money deposit. This deposit is a sign of good faith between the buyer and seller. However, losing this deposit can be a significant financial setback. It indicates the buyer’s commitment to purchasing the property.

Earnest money deposit

HomeLight

DECEMBER 12, 2023

A mortgage contingency protects you in such situations, ensuring that you’re not left holding an empty bag if the financing falls through. Find a Top Buyer’s Agent to Guide You HomeLight can connect you with a top-rated real estate agent familiar with mortgage contingencies and home listings in your area.

Earnest money deposit

HomeLight

JUNE 23, 2022

If a seller terminates the contract outside of these contingencies , they typically must forfeit the buyer’s earnest money and — depending on the circumstances — may even be required to pay additional money damages and face other possible repercussions for breach of contract. Well, then they lose the earnest money.

Earnest money deposit

HomeLight

JUNE 9, 2023

Believe it or not, there are actually home sellers who offer to loan buyers the money to purchase their property: it’s called owner financing. Connect with a top agent near you to get an expert opinion on how much your house will sell for, what to fix before listing, and the latest local housing market trends.

Finance

HomeLight

JUNE 8, 2023

Before you submit your bid, it’s important to understand what an Earnest Money Deposit (EMD) is, how you can use one to strengthen your offer, and how to protect your money should anything come up during your home-buying process. Get Started What’s earnest money?

Earnest money deposit

HomeLight

JUNE 29, 2022

Real Estate Agent. Real Estate Agent at Berkshire Hathaway HomeServices Realty Professionals. According to Chester Ardolino , a real estate agent in Springfield , Massachusetts, the time to think about your top priorities as a seller is before the house hits the market. Require a sizable earnest money deposit.

Earnest money deposit

HomeLight

SEPTEMBER 11, 2020

Basic overview: You’ll work with your agent to deliver the offer to the seller’s agent on the forms used in your state. If and when all parties do agree to the terms, your agent will draft a final offer, and all parties will sign it. Hire the right agent. Buyer’s agents, we know the tricks. Set your budget limits.

Earnest money deposit

CT Homes

AUGUST 31, 2020

Financing Issues. There are truly several financing items that could be a potential problem, especially if the buyer is self-employed. Unless there is a massive earnest money deposit, they may be able to walk away if they find a property they like more while risking little. There is also the issue of the appraisal.

Earnest money deposit

HomeLight

JANUARY 10, 2024

Most purchase agreements are contingent on two key items: home inspection and financing. Find a Top Agent With Experience in Contingency Offers If you need to make an offer on a home with contingencies, you’ll want a top agent by your side who can avoid pitfalls and secure the home you want.

Earnest money deposit

Realtor.com

OCTOBER 29, 2020

Most purchase agreements have contingencies —things that buyers must do before the real estate transaction is official, explains Jimmy Branham , a Coral Springs, FL, real estate agent at the Keyes Company. Financing contingency: This contingency gives you the right to back out of the deal if your mortgage approval falls through.

Closing

HomeLight

JULY 31, 2022

One of the first steps is to pick a real estate agent to work with. But what if you decide that you don’t want to work with a buyer’s agent to buy your home? Well, welcome to your step-by-step guide to buying a home without a real estate agent. You’ve decided it’s time to buy a house ! Find a lender you can trust. Find a home.

Earnest money deposit

HomeLight

JANUARY 3, 2024

Find a Top Agent With Experience in Contingency Offers If you need to make an offer on a home with contingencies, you’ll want a top agent by your side who can avoid pitfalls and secure the home you want. We analyze over 27 million transactions and thousands of reviews to determine which agent is best for you based on your needs.

Purchase and sale agreement

HomeLight

JANUARY 12, 2024

Find a Top Agent With Experience in Contingency Offers If you need to make an offer on a home with contingencies, you’ll want a top agent by your side who can avoid pitfalls and secure the home you want. We analyze over 27 million transactions and thousands of reviews to determine which agent is best for you based on your needs.

Loan contingency

Point2Homes

NOVEMBER 29, 2022

The earnest money deposit. But, by paying the earnest money deposit or down payment into escrow rather than to the seller directly, the buyer can be sure that if the sale falls through, they’ll have no trouble getting their money back. Property deeds. Title checks.

Earnest money deposit

HomeLight

MARCH 7, 2024

You’ve planned, juggled finances, worried about finding the right house, and then you finally sign a contract. Achieve Greater Buyer Confidence With a Top Agent HomeLight can connect you with the most experienced buyer’s agents in your home shopping area. Buying a home is rarely done with casual disregard.

Purchase and sale agreement

HomeLight

OCTOBER 1, 2020

You now have skin in the game in the form of your earnest money deposit, plus you have a legal duty to buy the home (barring certain circumstances). So as a buyer, you should have a contingency in your contract to protect you in case you can’t get proper financing for the home. Financing contingency.

Earnest money deposit

HomeLight

SEPTEMBER 30, 2020

You’re finally ready to purchase a home and after doing some research online, you think that exploring your options around how to buy a HUD Home might be a good fit for your lifestyle and finances. First, find a real estate agent. Offers can only be submitted by agents on the official HUD Home Store website with an agent’s NAID number.

Earnest money deposit

HomeLight

SEPTEMBER 16, 2022

We researched the details and talked with an expert Texas real estate agent to help you make the most of an option period. The buyer would still receive back the earnest money deposit (EMD) placed down at signing, usually between 1% and 3% of the sale price. Find an Agent To Help You Make the Most of Your Option Period.

Option period

HomeLight

JULY 12, 2024

There will be a lot happening that involves money you’ve saved and money you’re borrowing. You’ll hear your lender and real estate agent use the phrase “house in escrow.” Buyer financing and insurance: Securing a mortgage and obtaining homeowner’s insurance.

Purchase and sale agreement