Housing Wire

DECEMBER 18, 2024

Funds placed in escrow often include things such as earnest money deposits or funds from a seller to help a buyer pay closing costs or their agents commission. This is the first time in my 25-plus years that I can remember a property firm closing down in Massachusetts,Vetstein said in the article.

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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.

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Housing Wire

DECEMBER 10, 2020

Users have access to digital earnest money deposits, online and mobile notarizations, instant remote access to closing documents, and real-time status updates on all open orders from anywhere and at any time. The post JetClosing expands to Austin housing market appeared first on HousingWire.

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Housing Wire

JANUARY 14, 2025

. “We’re creating an unprecedented platform that will secure the movement of Good Funds for our customers at every step of a real estate transaction, from the moment a buyer submits their earnest money deposit until the seller’s mortgage is paid off. This is the future of secure real estate transactions.”

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Housing Wire

SEPTEMBER 2, 2022

They may close the transaction and transfer the NFT, or if they choose to not honor the trade, they forfeit their earnest money deposit, as customary in any standard real estate purchase.”. “To ensure the NFT is traded as agreed, the NFT seller (homebuyer) has two choices.

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Realtor.com

NOVEMBER 15, 2021

How much earnest money is normal? Here are eight mistakes with earnest money deposits that home buyers often make and how to avoid them. The post How Much Earnest Money Is Normal? Earnest Money Deposit Mistakes appeared first on Real Estate News & Insights | realtor.com®.

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Maximum Exposure Real Estate

AUGUST 3, 2022

When buying a home, the vast majority of the time you will be required to put up earnest money or good faith deposit. The typical earnest money amount is between one to five percent of the purchase price. […].

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Housing Wire

FEBRUARY 9, 2021

If you didn’t have the contingency, you’d have to forfeit your earnest money deposit in order to back out. If you had an appraisal contingency in your sales contract, you could do this without any sort of penalty. One more option. If you have an appraisal gap, there is a fourth, typically less successful path you can take, too.

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Earnest money deposit Seller concession Loans Lending 482

Maximum Exposure Real Estate

DECEMBER 15, 2023

One of the essential aspects of a home purchase is earnest money. Your earnest money deposit is the glue that keeps a real estate transaction […] The post FAQs About Earnest Money Deposits in Real Estate appeared first on Maximum Real Estate Exposure.

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Housing Wire

SEPTEMBER 25, 2020

And FNF is now expanding its startSafe offerings by allowing consumers to deposit their earnest money through the portal. The company said new features, like the mobile earnest money deposit, make the process of starting a real estate transaction more convenient and safe.

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Housing Wire

SEPTEMBER 14, 2023

This way, users can manage the key steps of their transactions in one central place, from earnest money deposits to disclosures, moving services, rental screenings and even home warranty.

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Housing Wire

MARCH 29, 2022

Or maybe the lender just needs to verify the source of a borrower’s earnest money deposit. Perhaps the loan is associated with a construction project that could take an unknown number of months to complete. Long asset history may not be available for every borrower.

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Maximum Exposure Real Estate

NOVEMBER 30, 2023

Among the most commonly misunderstood elements is earnest money deposits – a crucial aspect that, if mishandled, can lead to costly consequences and delay your dream of homeownership. […] The post Avoid These Earnest Money Deposit Mistakes When Buying A House appeared first on Maximum Real Estate Exposure.

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Bigger Pockets

APRIL 25, 2023

How do you bounce back after waiving inspections, finding out your $100K rehab costs are actually $360K, losing your earnest money deposit, and ultimately having to walk away from your […]

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Maximum Exposure Real Estate

APRIL 27, 2022

Understanding An Earnest Money Refund When you are purchasing real estate, there are quite a few things you need to know. One of those things is whether or not your money is refundable. Many buyers and sellers will ask their respective real estate agents whether the earnest money deposit is refundable.

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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. The EMD should be enough to let a seller know you’re very interested, and also uncomfortable with the idea of leaving it on the table.”.

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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

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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

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Earnest money deposit Inspection contingency Purchase and sale agreement Pre-approval 40

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. We built Paymints.io

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Redfin

FEBRUARY 28, 2025

Here are the key expenses: Earnest money deposit Down payment Closing costs Prepaid costs (taxes, insurance, interest) Moving costs Mortgage payments Mortgage insurance (if applicable) HOA fees (if applicable) Well use the median U.S. Earnest money deposit Earnest money is paid after a seller accepts your offer on a house.

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Earnest money deposit Closing costs Principal Loans 50

HomeLight

JUNE 8, 2023

Before you submit your bid, it’s important to understand what an Earnest Money Deposit (EMD) is, how you can use one to strengthen your offer, and how to protect your money should anything come up during your home-buying process. In higher-priced or competitive markets, deposits can reach up to 10%.

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BAM Media

FEBRUARY 21, 2025

Very rarely do people log on thinking, I really hope I learn something about earnest money deposits today! Instead of simply defining earnest money deposits, share a real-life scenario or article of someone losing theirs, and what could have prevented it. Think about why you open Instagram. Tell a story.

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Redfin

MARCH 11, 2025

Youre using a no-down-payment loan If youre financing with a VA loan or USDA loan, which dont require a down payment , your entire earnest money deposit can go toward closing costs instead. Example: Youre buying a home with a VA loan, and your earnest money deposit was $5,000.

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Earnest money deposit VA loan Closing costs Inspection 54

HomeLight

JUNE 23, 2022

If the buyer fails to get approval for a mortgage, the buyer can terminate the contract and remain entitled to their earnest money deposit, basically holding the bank responsible for the failed process. If the buyer prefers, the money can instead be applied toward their closing costs. Surprises in the final walkthrough.

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HomeLight

DECEMBER 12, 2023

If your loan application is denied, or you can’t secure financing under the terms outlined in the contingency, you can withdraw from the deal and typically recover any earnest money deposit you’ve made. This is all part of the due diligence period.

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HomeLight

JANUARY 19, 2024

This means that if you are unable to obtain the full and proper financing within a specified period, you can back out of the deal without penalty, which in most cases means you can retain your earnest money deposit. It’s particularly important for buyers who are not paying in cash and require a loan to complete the purchase.

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Earnest money deposit Purchase and sale agreement Mortgages Home sale contingency 111

HomeLight

JUNE 29, 2022

Require a sizable earnest money deposit. An earnest money deposit is a way for buyers to show that they’re committed to following through with the home sale. Buyers make this deposit after they’ve made an offer and you’ve both signed the purchase agreement.

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HomeLight

SEPTEMBER 11, 2020

Determine how much earnest money to offer. An earnest money deposit (also called a “good faith deposit”) is money that accompanies your offer and communicates your seriousness to the seller. The customary amount to put down as an earnest money deposit will vary based on your market.

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Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 98

RIS Media

OCTOBER 22, 2020

Your client should also come prepared with a few other things: a pre-approval letter, earnest money deposit and, if they are paying cash, a proof of funds document. Bolin suggests that the higher earnest money deposit your client makes, the more the offer may stand out.

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Earnest money deposit Pre-approval Marketing Proof of funds 127

CT Homes

AUGUST 31, 2020

Unless there is a massive earnest money deposit, they may be able to walk away if they find a property they like more while risking little. The best way to deter “shotgun” bidders is to increase the earnest money deposit. Even when an offer is accepted it does not mean they stop looking.

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Earnest money deposit Pre-qualification Pre-approval Inspection 105

BAM Media

MARCH 5, 2025

A Strong Earnest Money Deposit A standard deposit is 5%, but serious buyers should consider going higher10%, 15%, or even more. The bigger the deposit, the stronger the commitment. If they need extra time, offer a leaseback or work with their timeline. Ive had clients put the entire purchase price in escrow.

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Earnest money deposit Agents Inspection Marketing 66

Easy Agent Pro

SEPTEMBER 5, 2023

By writing a compelling offer letter, including flexible terms and contingencies, and offering a higher earnest money deposit, you can differentiate yourself from other buyers and increase the chances of your offer being accepted. Quick Response and Communication In a competitive real estate market, time is of the essence.

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RIS Media

SEPTEMBER 23, 2021

Prior to the formal addition to the RE/MAX Approved Supplier Program, several RE/MAX offices were invited to participate in a pilot program for feedback around Keybox’s many payment solutions, including earnest money deposits (EMD), agent invoicing, commission disbursements, title payments and different rental payments.

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HomeLight

JANUARY 26, 2024

For example, if the inspection reveals that repairs will cost more than a pre-agreed limit, say $3,000, you might have the option to back out of the deal while retaining your earnest money deposit. Risk of forfeiting earnest money A major chip on the due diligence poker table is your earnest money deposit.

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RIS Media

APRIL 1, 2021

– Loss of Earnest Money Deposit (EMD) and other financial liabilities. . – Savvy clients may feel more comfortable with the real estate process. – Buyers have no legal protections if they choose to cancel the purchase contract.

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HomeLight

JUNE 28, 2023

Earnest money, also known as a good faith deposit, is the funds that a buyer puts down to show that they are serious about purchasing a piece of real estate from a seller. The buyer typically gives 1% to 3% of the sales price as an earnest money deposit (EMD).

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Earnest money deposit Closing costs Agents Closing 97

RIS Media

MARCH 16, 2021

Earnnest has already become the industry standard for earnest money deposits and this recognition from FinTech Breakthrough is an important validation of our innovative approach and successful execution. We are honored and grateful for the vote of confidence from FinTech Breakthrough.”

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