Redfin

MARCH 11, 2025

Key takeaways: Earnest money is a good-faith deposit that shows the seller youre committed. Earnest money is not the same as a down payment, but its usually applied toward your down payment at closing. What is earnest money? Does earnest money go towards the down payment?

Earnest money deposit

Redfin

FEBRUARY 28, 2025

So, how much money do you really need to buy a house? Here are the key expenses: Earnest money deposit Down payment Closing costs Prepaid costs (taxes, insurance, interest) Moving costs Mortgage payments Mortgage insurance (if applicable) HOA fees (if applicable) Well use the median U.S. Whats included in closing costs?

Earnest money deposit

Redfin

JUNE 23, 2025

While not required everywhere, it’s an important part of the process in certain markets and is separate from the earnest money deposit. What is the difference between due diligence money and earnest money? You put an offer on a home and it’s been accepted, now the due diligence period begins.

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. Sometimes, buyers need more than money to get the deal done. What is a contingency?

Earnest money deposit

Redfin

JULY 30, 2025

In addition to getting pre-approved, having cash reserves prepared for your earnest money deposit and other closing expenses is also one of the top tips for making an offer on a house. In the average market, a typical earnest money deposit is 1-3% of the home’s purchase price.

Earnest money deposit

Redfin

JUNE 11, 2025

If the buyer cannot sell their home in time, they can cancel the contract without losing 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 17, 2025

Earnest money deposit: A higher deposit signals serious intent and financial stability. Key Takeaways: A best and final offer (BAFO) is a buyer’s last chance to make the strongest bid before the seller decides. Sellers usually ask for BAFOs when multiple buyers are interested and want to simplify negotiations.

Earnest money deposit

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

BAM Media

MARCH 5, 2025

A Strong Earnest Money Deposit A standard deposit is 5%, but serious buyers should consider going higher10%, 15%, or even more. The bigger the deposit, the stronger the commitment. Sellers want certainty, and a significant deposit shows that your buyer is serious. But price alone isnt always enough.

Earnest money deposit

Redfin

JUNE 27, 2025

These can greatly affect both the quality of your purchase and your bottom-line expense. You’ve saved for a down payment and spent more time scrolling through listings than you’d like to admit. One thing is clear; you’re ready to dive into homeownership. In this article, we’ll outline 17 common mistakes for first-time homebuyers.

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. Submit separate earnest money deposits for each offer Make a separate earnest money deposit for each offer.

Earnest money deposit

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

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 11, 2025

That means if the sale is completed, the money is not refunded – it’s credited toward what you owe. But what about if your deal falls through, is the earnest money refundable then? Short answer: Yes, earnest money is often refundable, but only if specific conditions in your contract are met.

Earnest money deposit

Redfin

FEBRUARY 18, 2025

This means you’ll borrow more money, but you won’t have to pay as much out of pocket at closing. Can you roll closing costs into your mortgage? The answer is a bit of a yes and noit’s a double-edged sword. Basically, folding your closing costs into your loan means you’ll need less cash upfront at closing.

Closing costs

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 9, 2025

Decide on important terms like earnest money deposits, contingencies (inspection, financing), and closing dates that can make your offer stand out. Determine your budget Estimated time: 2-4 weeks Before jumping into your home search the first step is to determine how much you can afford. What is your commute tolerance?

Pre-approval

Redfin

JULY 28, 2025

Similar to your earnest money deposit, these funds are placed into an escrow account, where they’re safely held until the bills need to be paid. >> Read: How Much Money Do I Need to Buy a House? Buying a home comes with a lot of paperwork and numbers that can quickly feel overwhelming.

Earnest money deposit

Redfin

JUNE 12, 2025

Strong earnest money deposit: A higher deposit signals you’re serious and financially committed; giving sellers more peace of mind. You’re constantly checking your phone, wondering: how long does a seller have to respond to an offer? That window is pretty standard in real estate, but there’s a bit more to it.

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

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

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. Clean terms, proof of financing, and flexibility can help your offer get noticed—even as a backup.

Earnest money deposit

BAM Media

FEBRUARY 21, 2025

Very rarely do people log on thinking, I really hope I learn something about earnest money deposits today! Instead of simply defining earnest money deposits, share a real-life scenario or article of someone losing theirs, and what could have prevented it. Your audience is the same way. Tell a story.

Earnest money deposit

Redfin

AUGUST 4, 2025

Do your homework before you make an offer Negotiation begins long before you submit an offer. It starts with gathering data and assessing the overall situation. Research the local market Understanding the fair market value of a home is critical. Look at comparable homes that have recently sold in the same area, often called “comps.”

Earnest money deposit

Redfin

JULY 30, 2025

How much money do I need to buy a house? Most homebuyers will need to think ahead about the following costs when estimating how much money is needed to purchase a home: Down payment: The down payment is a percentage of the home’s purchase price, anywhere from 0% to 20% depending on your loan. What is a first-time homebuyer?

Pre-approval

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. If your loan falls through, you could lose your earnest money or even be legally obligated to follow through with the purchase. What is a financing contingency in real estate?

Finance

Redfin

AUGUST 5, 2025

Buyers can benefit from the leg up in a competitive housing market, avoid mortgage fees and interest rates and save money in the long run. Here are common reasons to get a mortgage instead of buying a house with cash: Short on money: Budgeting for a house is hard, and most people don’t have the funds laying around to put down on a house.

Earnest money deposit

Redfin

MARCH 7, 2025

One of the most common questions that come up during this phase is: who pays for the home inspection? Understanding this can clear up confusion and help both buyers and sellers navigate the home-buying process more smoothly. In this Redfin article, well break down who pays for the home inspection and answer other common home inspection questions.

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

APRIL 9, 2025

I have even seen non-refundable earnest money deposits, Joe Tamburo, a Bergen County-based Coldwell Banker Realty broker, said. I have even seen non-refundable earnest money deposits, Joe Tamburo, a Bergen County-based Coldwell Banker Realty broker, said. They are doing just about everything. It was crazy.

Earnest money deposit

Housing Wire

JULY 21, 2025

The process includes selecting a home, submitting an earnest money deposit and e-signing of a purchase contract. The process includes selecting a home, submitting an earnest money deposit and e-signing of a purchase contract. The online buyer model is available for all Century Complete homes in Nevada.

Earnest money deposit

Housing Wire

JULY 10, 2024

Earnest money service Earnnest and CoreLogic are launching a strategic partnership, according to an announcement on Wednesday. Through the Earnnest platform, users can securely and efficiently conduct digital transfers of earnest money deposits, eliminating the need for traditional checks and wire transfers.

Earnest money deposit

Housing Wire

OCTOBER 3, 2023

Qualia on Tuesday said the new product provides closing agents with the ability to securely collect and share wire instructions with buyers and sellers, and it features systems for earnest money deposit collection, automated wire matching, wire-sending integrations, wire fraud detection , and seller ID verification.

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. The Earnnest platform offers a user-friendly and fully digital fund transfer process for home purchase transactions. International.

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

DECEMBER 18, 2024

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. 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.

Earnest money deposit

Housing Wire

DECEMBER 10, 2020

Users have access to digital earnest money deposits, online and mobile notarizations, instant remote access to closing documents, and real-time status updates on all open orders from anywhere and at any time. Digital title company JetClosing is opening its fifth office in Austin.

Earnest money deposit