Due diligence Earnest money deposit Home sale contingency Title 
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.
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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HomeLight
JUNE 23, 2022
5k for a $500K home). It is usually held in the broker’s or title company’s trust or escrow account until closing. The earnest money typically goes towards the buyer’s down payment or closing costs. It is refunded to the buyer only upon certain contingencies specified in the contract.
HomeLight
JULY 26, 2022
Maybe there are liens or judgments against the title — or maybe they don’t actually own the home they’re trying to sell. 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. Find An Agent To Buy A FSBO Home. Appraisal contingency.
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. The title isn’t clear.
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