Closing costs Construction Due diligence Inspection contingency 
HomeLight
AUGUST 9, 2022
Otherwise, earnest money will be held in an escrow account until closing, and the amount is then applied toward your down payment at closing. Larsen cautions that if you’re buying a new construction home, you will likely be expected to pay a much larger percentage of earnest money. Don’t forget about closing costs.
HomeLight
SEPTEMBER 15, 2021
You’ll need to research comparable properties or “comps ” in your hyperlocal real estate market , taking into consideration lots of variables like location, era, construction and materials, condition and more. This stage takes an average of 51 days while the buyer, their agent, and their lender will conduct their own due diligence.
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