Rochester Real Estate

NOVEMBER 5, 2015

Factors such as earnest money deposits, loan approvals, and real estate agent involvement should be considered. Review your financial capabilities and ensure you have sufficient funds for earnest money deposits and potential down payments. Finally, assess your readiness in terms of time and commitment.

Earnest money deposit

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

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. 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. What is the difference between due diligence money and earnest money? This only applies in certain states.

Due diligence

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 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. Contracts that include this clause often specify key details, such as whether the buyer’s current home is already under contract and how much time is allowed for the sale to close.

Purchase and sale agreement

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. If the seller needs a quick close, line up financing to accommodate. A Strong Earnest Money Deposit A standard deposit is 5%, but serious buyers should consider going higher10%, 15%, or even more.

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

JULY 10, 2025

Credited toward the purchase price at closing Credited toward the purchase price if sale closes Fee amount 1-3% of the purchase price Often 0.1% of the purchase price, negotiated between the buyer and seller What is earnest money? Earnest money is a payment a buyer makes to show commitment to buying the property.

Due diligence

Redfin

JULY 11, 2025

When you make an offer on a home, you’ll usually include earnest money – a deposit that shows the seller you’re a serious buyer. 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. When is earnest money refundable?

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 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 15, 2025

The buyer’s home is already under contract: If the buyer has already accepted an offer on the home they’re selling, your risk and closing time will typically be lower. The home is in a “hot” market: If the buyer’s home looks like it’ll sell quickly, this is likely to also reduce your risk and time for closing.

Home sale contingency

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.

Pre-approval

Rochester Real Estate

NOVEMBER 5, 2015

If your offer is accepted, you will sign a purchase agreement and pay an earnest money deposit. Final Loan Approval Before you close on the home, avoid making any changes to your finances that could undermine your approval. This will also tell you the money that needs to be paid on closing day. Contact Me!

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.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

It puts them in a position where they feel they may have to take that risk to finally close on a home! They don’t want you to lose your earnest money deposit either. It can cost thousands of dollars for a home to be corrected, and that comes out of your pocket if you waive that inspection and find out after closing.

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. Closing costs: Typically 2-5% of the home’s purchase price. What are the closing costs?

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. Counteroffer: The seller proposes changes, such as a higher price, adjusted closing date, or modified contingencies.

Earnest money deposit

Redfin

MARCH 26, 2025

This contingency gives you a legal out if something unexpected prevents you from closing. Lenders may see buyers with larger down payments as lower risk, making the loan process smoother and more likely to close without issues. A substantial down payment can reduce the chances of financing complications.

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

However, fees for the loans can be higher than a bank and it’s likely that your loan will be sold on the secondary market after closing. This article provides 14 insights for Veterans to save money and minimize their out of pocket investment, save on the interest rate and closing costs, and structure the purchase contract.

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

Exit Realty had 14 affiliates that closed at least 500 sides in 2023, according to RealTrends. Earnnest, based in South Carolina , has reportedly facilitated more than 350,000 digital earnest money deposits with a total value of more than $2 billion since its inception in 2017.

Earnest money deposit

Housing Wire

SEPTEMBER 9, 2024

Like with the amount of earnest money deposit or including an inspection contingency, the amount the buyer is asking the seller to pay her agent is a term that impacts the strength of the offer,” Redfin chief economist Daryl Fairweather said in a statement.

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. As the article notes, no one has been accused of a crime at this time.

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.

Title

Housing Wire

FEBRUARY 9, 2021

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. Offer free lease-back, letting them stay in the home while they find their new place. Finally, you can also back out of the deal entirely.

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

Housing Wire

SEPTEMBER 14, 2023

In recent months, we’ve been thrilled to collaborate with major tech providers, critical ones for real estate — so we can bring together our trusted, secure software and give agents a simpler way to win over and close for clients right now, when they need it the most.

Earnest money deposit

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. Review your closing disclosure. Get all contingencies squared away.

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. In addition to putting your best foot forward, you should be sure you’re working with an agent who has the skills to close the deal. “A

Earnest money deposit

GeekEstate

AUGUST 19, 2021

Since fraud tends to occur at times where money is being transferred , whether it’s an earnest money deposit or other closing costs, it’s time we look outside of old school methods and embrace technology to keep our personal information and money safe. Revolutionary Technology in Real Estate. The paymints.io

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