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 90

HomeLight

AUGUST 9, 2022

If you back out of the sales agreement and your reason for doing so isn’t covered by contingency written into the contract, the seller can keep your earnest money. Otherwise, earnest money will be held in an escrow account until closing, and the amount is then applied toward your down payment at closing.

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Earnest money deposit VA loan Purchase and sale agreement FHA loan 91

HomeLight

OCTOBER 15, 2020

The median sales price of single-family homes in the region was $291,000 in May 2020 , the Atlanta Board of Realtors reported. But if you change your mind after the due diligence period is over, you could lose your earnest money deposit.). Source: (Sven Mieke / Unsplash). Start with your budget in Atlanta.

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Due diligence Earnest money deposit Marketing Inspection 83