Redfin

JUNE 27, 2025

Don’t skip critical steps like the home inspection or negotiating closing costs. Take note of closing costs, loan terms, and any additional fees. Missing out on first-time homebuyer programs Between saving for a down payment and covering closing costs, buying a home can feel financially overwhelming.

Pre-approval

Redfin

JULY 30, 2025

Whether you’re a first-time buyer looking for a home in Birmingham, AL or a seasoned investor on the hunt for houses in Miami, FL , these 9 expert tips for making an offer on a house will help you stand out and improve your chances of closing the deal. Why pre-approval matters: It gives sellers confidence in your ability to close.

Earnest money deposit

Redfin

JUNE 23, 2025

In real estate, the due diligence period is the time between an accepted offer and closing. During a real estate transaction, the due diligence period occurs after an offer is accepted but before closing. What is the difference between due diligence money and earnest money? What happens in the due diligence period?

Due diligence

Redfin

MARCH 18, 2025

Understanding how earnest money works can help you feel more confident as you move through the homebuying process. This Redfin article will break down exactly what happens to your earnest money at closing, and what to expect in different scenarios. What is earnest money? You may receive a refund.

Closing

Redfin

JULY 28, 2025

One term you might come across is “prepaid costs”—but what exactly does that mean? Prepaid costs are fees you pay upfront at closing to cover things like property taxes and insurance before they’re due. Table of contents What are prepaid costs when buying a home? So, which prepaid costs should you expect at closing?

Earnest money deposit

Redfin

JULY 11, 2025

This good-faith payment, typically 1% to 3% of the purchase price, is held in escrow and applied to your down payment or closing costs if the sale goes through. That means if the sale is completed, the money is not refunded – it’s credited toward what you owe. When is earnest money refundable?

Earnest money deposit

Redfin

JULY 9, 2025

You may have saved enough for your down payment, but make sure to also account for closing costs, taxes, insurance, and any other unforeseen expenses that may arise. Decide on important terms like earnest money deposits, contingencies (inspection, financing), and closing dates that can make your offer stand out.

Pre-approval

Redfin

JULY 10, 2025

When buying a home, understanding earnest money vs. due diligence is key. Earnest money is a refundable deposit held in escrow to show your serious intent to buy, while due diligence fees are usually non-refundable payments made directly to the seller to secure time for inspections and evaluations.

Due diligence

Redfin

JULY 30, 2025

If you’re wondering if you’re ready to buy a house , consider these three factors: Financial stability: If you have a low credit score, lots of debt, and not enough funds to cover a down payment and closing costs, you may want to wait to buy a home. How much money do I need to buy a house? What is a first-time homebuyer?

Pre-approval

Redfin

JUNE 30, 2025

It typically includes: The purchase price Contingencies (like financing or inspections) Requests for the seller (such as covering closing costs or repairs) Other key dates (including response deadline, closing date, etc. Clean terms, proof of financing, and flexibility can help your offer get noticed—even as a backup.

Earnest money deposit

Redfin

AUGUST 5, 2025

There are several advantages to buying a house with cash, including winning bidding wars and closing quickly on your dream home. Oftentimes, it’s more appealing to the seller because it promises a faster and simpler closing. Real estate is an illiquid asset, meaning you can’t easily access that money when you need it.

Earnest money deposit

Redfin

MARCH 26, 2025

Quick answer: A financing contingency gives buyers a way to walk away from the deal and keep their deposit if their loan application is denied. Lenders may see buyers with larger down payments as lower risk, making the loan process smoother and more likely to close without issues. What is a financing contingency in real estate?

Finance

Redfin

AUGUST 4, 2025

Be ready to: Go into the negotiation expecting a back-and-forth exchange, and always expect the seller to counter your offer Adjust other terms like closing, contingencies, or personal property included in the sale If possible, be flexible when it comes to timing. It starts with gathering data and assessing the overall situation.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

Top Mortgage Blogs From 2017 Best Mortgage & Home Financing Blogs From 2017 We’re back! This week we’re highlighting the best mortgage blogs from this year! Last week we published the best home selling blogs from this year and the week before that, we published the top home buying blogs from 2017!

Finance

Housing Wire

DECEMBER 18, 2024

Over the weekend, broker-owner Steve Webster sent a note to his agents informing them that the brokerage was closing, according to a report by Boston 25 News. Funds placed in escrow often include things such as earnest money deposits or funds from a seller to help a buyer pay closing costs or their agents commission.

Earnest money deposit

GeekEstate

AUGUST 19, 2021

This is only one story of many that has inspired us to make a change in the money transfer process in the real estate industry. are arising that allow larger sums to be transferred making it ideal, safe, and convenient for earnest money deposits, cash-to-close for refinances, and more. Yes, check fraud is a thing!

Earnest money deposit

HomeLight

JUNE 29, 2022

Whether it’s dealing with price negotiations or determining a timeline for closing and moving out of the property, you’ll want to step into the process already knowing your objectives and what to expect from prospective buyers. Making enough money off the sale to fund the downpayment on a new home. Single Family Homes.

Earnest money deposit

HomeLight

JUNE 23, 2022

If you need assistance navigating the legalities of keeping earnest money from a real estate transaction, HomeLight always encourages you to reach out to your own advisor. What is earnest money? Earnest money is often referred to as a “good faith” deposit. 5k for a $500K home).

Earnest money deposit

Dwell Real Estate

JULY 10, 2020

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

Earnest money deposit

Dwell Real Estate

JULY 10, 2020

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

Earnest money deposit

Easy Agent Pro

SEPTEMBER 5, 2023

By writing a compelling offer letter, including flexible terms and contingencies, and offering a higher earnest money deposit, you can differentiate yourself from other buyers and increase the chances of your offer being accepted. Awareness of these trends can help you identify opportunities and make more informed decisions.

Earnest money deposit

HomeLight

JUNE 28, 2023

You’re likely weighing your resources to make certain you’ve planned properly for a down payment, closing costs, and a monthly mortgage payment. But the first financial step toward making it all happen is presenting an offer with earnest money. Get Started What is earnest money in real estate?

Earnest money deposit

Point2Homes

NOVEMBER 29, 2022

The earnest money deposit. However, since a real estate transaction is rarely as straightforward as sending the seller the agreed amount of money and getting the deeds in return, using escrow is strongly recommended. Once selected, the account is typically opened when the buyer places their earnest money deposit into it.

Earnest money deposit

Realtor.com

OCTOBER 29, 2020

These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected. the interest rate and duration), and additional fees you’ll pay, called closing costs (which account for anywhere from 2% to 7% of your home’s price).

Closing

HomeLight

JULY 12, 2024

As a buyer, the two main purposes of escrow are to hold your earnest money and manage the funds related to the sale until all conditions of the escrow agreement are met. After the purchase, there will still be money that needs to be managed as part of your mortgage agreement and tax and insurance requirements.

Purchase and sale agreement

HomeLight

JULY 26, 2022

Knowing that they will save money by not paying the listing agent’s commission, a seller might list their home at a lower price than they would if they had hired an agent. You’re driving around a neighborhood you love, and then up there in the distance, you see a sign in a yard. Is it a yard sale? A political sign? A contractor’s information?

Earnest money deposit

HomeLight

MARCH 2, 2023

People who live here love the proximity to some of the west coast’s best beaches, as well as being close to destinations like Disneyland, Joshua Tree National Park, and the deserts of Palm Springs. Find a Buyer's Agent What will it cost to buy a home in San Diego? Looking to Buy Your Dream Home in San Diego?

Closing

Lighter Side of Real Estate

FEBRUARY 10, 2022

It’s especially important to include them in the process if they are chipping in money for your down payment or closing costs!). It’s especially important to include them in the process if they are chipping in money for your down payment or closing costs!). Check Gregory Brown GIF from Check GIFs.

Earnest money deposit

Realty Biz

MARCH 9, 2021

The main requirement is that the child must be able to document some type of disability and show that this disability prevents them from earning enough money to afford a home on their own. A 2 nd home or a vacation home generally is not afforded the same low rates. Understanding Owner Occupied Rule. This is the meaning of “owner-occupied.”

Pre-approval

HomeLight

SEPTEMBER 1, 2022

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. Homebuyers in Connecticut pay an average of just over $2,700 in closing costs when purchasing a home.

Earnest money deposit

HomeLight

SEPTEMBER 1, 2022

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. With all these benefits, it makes sense that Florida’s population is booming. Saving for your down payment.

Earnest money deposit

HomeLight

MARCH 6, 2023

The Bay Area is also close to beaches, national parks, and the wineries of Napa Valley. Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more.

Earnest money deposit

HomeLight

AUGUST 31, 2021

It’s the moment when you can’t bear to see another piece of paper related to your home sale that you’ll receive the settlement statement — also known as a closing statement in real estate. Sellers can expect to pay between 6%-10% of the final sale price in commissions and closing costs, so it’s nice to see exactly where that money is going.

Earnest money deposit

Redfin

MARCH 12, 2021

As you close in on making an offer on a home, your real estate agent – or the seller’s agent – will ask about “earnest money.” Earnest money is a type of security deposit, also known as a “good faith” deposit, offered to show the seller of a home that you’re serious about purchasing the property.

Earnest money deposit

HomeLight

SEPTEMBER 30, 2020

HUD will also take care of some of the closing costs, up to 3% of the home’s purchase price. These costs include a mortgage origination fee up to 1%. But when you open up the HUD website, you realize this experience is very different from browsing for homes on a popular real estate portal. How does bidding work?

Earnest money deposit

Realty Biz

MARCH 27, 2022

Offer a Larger Earnest Money Deposit. Your earnest money is a way of showing the seller that you are a serious buyer. This deposit will be placed in an escrow account , and if things go successfully, it can later be used as part of your down payment or to cover closing costs.

Purchase and sale agreement

Realty Biz

MAY 24, 2021

Another way to get started with little money is to wholesale real estate deals. What it doesn’t take is much money. You only need to put a small amount down as an earnest money deposit , and you get that money back either when the deal closes or if you put contingencies in place for it. House Hacking.

Earnest money deposit