Realty Biz

APRIL 17, 2023

You must put up an earnest money deposit when you buy a home. The purpose of earnest money is to show you're serious about buying. Many people refer to earnest money as a good-faith deposit. Earnest money deposits can be used as leverage in negotiations.

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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. Sellers don’t just want the best price for their home; they also want the easiest deal—which means no complications. Make it shorter, but don’t waive it.

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Realty Biz

NOVEMBER 11, 2020

This means that certain clauses have to be completed, by perhaps both buyer and the seller, for the sale to close. If these contingencies aren’t met, the buyer can walk away from the deal. They will also get their earnest money deposit back , and the home will go back on the market.

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Realty Biz

FEBRUARY 20, 2021

The home buying contingencies below should be completely understood before signing on the dotted line of a purchase and sale agreement. Home inspection: often called a due diligence contingency, will give the buyer rights to have the house inspected. Purchasing is contingent on making the sale first.

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HomeLight

JUNE 23, 2022

If the financing fails, the buyer can pull out of the contract with a full refund for earnest money as long as it’s before the specified deadline. In competitive markets, this contingency is very unattractive to sellers. Here are eight common situations where buyers often get their earnest money back: 1.

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HomeLight

JULY 26, 2022

Either way, you don’t want to get yourself stuck in a situation where you waste your time attempting to purchase a home, only to be disappointed. If the seller is working with a listing agent, their agent will more than likely have already done their due diligence to make sure they are able to sell their home.

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HomeLight

OCTOBER 30, 2020

A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. And if you add a home sale contingency into the mix (that is, if you need to sell your current home before you can buy a new one), closing the deal can take even longer. Because it’s fast.

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