HomeLight

OCTOBER 17, 2022

Meaning, buyers are charged with performing due diligence during real estate transactions to ensure they’re buying a product they’re satisfied with. This is known as the due diligence period. If the buyer isn’t satisfied with the deal, then they may back out and receive a refund of their earnest money deposit.

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Purchase and sale agreement Due diligence Earnest money deposit Inspection 94

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.

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Earnest money deposit VA loan Purchase and sale agreement FHA loan 96

HomeLight

OCTOBER 15, 2020

Georgia real estate contracts include a due diligence period, typically lasting between 10 and 14 days, so if you’re worried about losing out on a house in a hot market, you can make an offer and take your test drive during due diligence. Source: (I Do Nothing But Love / Unsplash).

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Due diligence Earnest money deposit Marketing Inspection 88