Rochester Real Estate

NOVEMBER 5, 2015

Factors such as earnest money deposits, loan approvals, and real estate agent involvement should be considered. Making multiple offers means putting forth earnest deposits for each property, which can be a considerable financial commitment. What are Simultaneous Offers? Another drawback is the financial aspect.

Earnest money deposit

Redfin

JULY 21, 2025

Many buyers find themselves wondering, can you back out of buying a house before closing? Key takeaways: Buyers can back out before closing, but there may be financial or legal consequences. Backing out without cause may result in losing your earnest money deposit. The answer is yes — but it’s complicated.

Earnest money deposit

Redfin

FEBRUARY 28, 2025

From the down payment to closing costs, there are a lot of expenses to consider. So, how much money do you really need to buy a house? Earnest money deposit Earnest money is paid after a seller accepts your offer on a house. Buyers pay this amount prior to closing on a home.

Earnest money deposit

Lighter Side of Real Estate

JUNE 3, 2025

Can you offer flexible closing dates to suit the sellers needs? Offering a higher earnest money deposit signals commitment and increases the sellers confidence that youll follow through. Its been a tough environment to navigate. Lead with your strengths. Make sure your offer highlights what makes you a strong buyer.

Inspection

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. During a real estate transaction, the due diligence period occurs after an offer is accepted but before closing.

Due diligence

BAM Media

MARCH 5, 2025

Match the Sellers Ideal Settlement Date Many buyers overlook this, but flexibility on the closing timeline can be a game-changer. Match the Sellers Ideal Settlement Date Many buyers overlook this, but flexibility on the closing timeline can be a game-changer. If the seller needs a quick close, line up financing to accommodate.

Earnest money deposit

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

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

JUNE 11, 2025

If they can’t deliver a clear title by the closing date, the buyer may back out of the deal and recover their earnest money. Although not required, contingencies are standard in most real estate contracts – and some are especially important depending on where you’re buying.

Purchase and sale agreement

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 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 15, 2025

If the buyer does not sell their home in the timeframe, the agreement is canceled without penalty (the buyer’s earnest money is refunded), or they can ask for an extension, which the seller can approve or deny. Buying a home is a big deal, and you want to make sure it’s perfect before you sign. How does a home sale contingency work?

Home sale contingency

Redfin

JULY 28, 2025

Prepaid costs are fees you pay upfront at closing to cover things like property taxes and insurance before they’re due. Whether you recently purchased a home in Portland, OR or San Diego, CA , this Redfin guide will explain prepaid costs in simple terms, so you can head into closing day feeling confident and prepared.

Earnest money deposit

Redfin

JULY 9, 2025

Between setting a budget, getting pre-approved, and closing the deal, getting everything squared away can make all the difference. 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. What is your commute tolerance?

Pre-approval

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

Rochester Real Estate

NOVEMBER 5, 2015

While a 20% down payment is a lot of money to save, making this easier with a gift from a relative or even your employer is possible. If your offer is accepted, you will sign a purchase agreement and pay an earnest money deposit. Buying a house is exciting, especially when doing it for the first time.

Purchase and sale agreement

Redfin

JUNE 12, 2025

Here’s what sellers are often looking for: A quick closing timeline: Sellers who need to move fast prefer buyers who can close in 30 days or less. Strong earnest money deposit: A higher deposit signals you’re serious and financially committed; giving sellers more peace of mind. Not at all.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

Yes, they save money by not getting the home inspection done. Should I Have A Home Inspection When Buying A House Buying a home is a significant investment and one you want to be happy with. It can be hard to wait for all the documents to be processed and while the various steps are being taken. This isn’t always the case though.

Inspection

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? Getting started: Are you ready to buy a home?

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

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. This contingency gives you a legal out if something unexpected prevents you from closing. When buying a home, few clauses are as important, or as misunderstood, as the financing contingency.

Finance

Redfin

MARCH 7, 2025

This typically happens when: In a buyers market : Sellers may be more willing to cover the cost of the home inspection or offer concessions to attract buyers and close the deal. Part of negotiation : In some cases, the seller may agree to cover the inspection costs as part of the overall deal, especially if theyre eager to close quickly.

Inspection

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

OCTOBER 3, 2023

The closing software firm is launching Qualia Shield , a funding and disbursement product for title and escrow companies. Qualia is stepping up its efforts against wire fraud. “Bad actors are continually refining their methods for wire fraud,” Charlotte Brown, the vice president of product at Qualia, said in a statement.

Earnest money deposit

Housing Wire

MAY 28, 2024

International and Earnnest , a digital app that handles earnest money collections, announced a partnership on Tuesday that is designed to create more seamless and secure real estate transactions. Exit Realty had 14 affiliates that closed at least 500 sides in 2023, according to RealTrends. International.

Earnest money deposit

Housing Wire

DECEMBER 18, 2024

SUCCESS Real Estate in the Greater Boston area suddenly closed up shop this week. 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. Understandably, this is upsetting news to all.

Earnest money deposit

Housing Wire

DECEMBER 10, 2020

The cloud-based platform, headquartered in Seattle, used for closing on a home in-person or remotely, has seen an increase in use in 2020 with the demand for non-contact closings skyrocketing. In July, the company closed on a $9 million Series B funding round , bringing its total funding to date to $35 million.

Earnest money deposit

Housing Wire

OCTOBER 8, 2024

Through Qualia’s network, title firms have access to direct integrations for wires, earnest money deposits, automatic clearing and positive pay, according to the announcement. Real estate software provider Qualia is looking to improve how it serves its title company customers.

Title

Housing Wire

FEBRUARY 9, 2021

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. Change your closing date to a more convenient one for the seller. If you didn’t have the contingency, you’d have to forfeit your earnest money deposit in order to back out.

Earnest money deposit

Housing Wire

SEPTEMBER 14, 2023

It started with Lone Wolf Marketplace, which brought essential connections into Lone Wolf Transactions — rental screenings, disclosures, home warranty, title insurance, digital earnest deposits and more. As competitive as real estate can be, it’s also collaborative. Consumer expectations have changed dramatically in the last few years.

Earnest money deposit

Housing Wire

MARCH 29, 2022

Consider, for instance, the multitude of scenarios that require lenders to take another look at assets between loan qualification and loan closing. Maybe closing delays have caused the original asset data to become aged. Or maybe the lender just needs to verify the source of a borrower’s earnest money deposit.

Lending

Realtor.com

OCTOBER 29, 2020

That’s why we’ve put together a home closing checklist, which outlines your action points in those few days leading up to settlement. Keep this closing process list handy to know you’ve done what you need to in order to close the deal. Get all contingencies squared away. Clear the title. Get final mortgage approval.

Closing

Realtor.com

DECEMBER 3, 2020

Your earnest money deposit was too ‘cheap’ If there’s one part of the offer you shouldn’t cheap out on, it’s the earnest money deposit. Natee Meepian/Getty Images For first-time home buyers, finding the perfect place to settle down is hard enough. But hold on!

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

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. Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well.

Closing

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. In higher-priced or competitive markets, deposits can reach up to 10%.

Earnest money deposit