3 Times Your Earnest Money Deposit Could Be At Risk

Dwell

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 If in a bidding war, buyers may even put down a larger earnest money deposit in an effort to stand out.).

How to take advantage of the backup offer on both sides of the transaction

Inman

Agent Select appraisal backup offer bidding wars comps contract earnest money deposits eXp Realty hot markets multiple offers real estate attorney Sagan Harborside Sotheby's International Realty The Gellman Team

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Brad Inman: Now is the time for a new ‘housing dynamism’

Inman

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DepositLink now offers same day transfers for EMD’s and commissions

Inman

DepositLink, the industry leader in electronic payments for residential real estate transactions, is revolutionizing the process for collecting earnest money deposits and commissions by introducing a “Same Day ACH” product that guarantees good funds in less than 24 hours.

How DepositLink delivers on equity and excellence

Inman

DepositLink is a safe, secure, and easy way for real estate companies, their agents, and title companies to request ACH earnest money deposits and commissions. Today, DepositLink CFO and co-founder Darrell West is building a real estate tech company.

Equity 139

JetClosing expands to Austin housing market

Housing Wire

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. Digital title company JetClosing is opening its fifth office in Austin.

Fidelity National Financial expands its digital options to help prevent wire fraud

Housing Wire

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. The earnest money mobile deposit option is currently in production in several markets and will be available in all markets by the end of October.

5 tips for buying a home in a seller’s housing market

Housing Wire

Waiving a contingency or two can also help, as can a larger earnest money deposit or being flexible with your closing date. . There’s no doubt we’re in a seller’s housing market.

Priorities Change in a Post-Pandemic Move

RIS Media

Eight percent planned to offer more than a 20% cash payment, 21% planned to increase their earnest money deposit and 17% planned to either offer above asking price or all cash.

Pros and Cons of Removing Contingencies Early

RIS Media

– Loss of Earnest Money Deposit (EMD) and other financial liabilities. The Spring 2021 market is hot and competitive! So should your clients submit an offer with no contingencies to maintain an edge over competing offers?

Fight Fraud, Don’t Fear it

GeekEstate

This is only one story of many that has inspired us to make a change in the money transfer process in the real estate industry. are arising that allow larger sums to be transferred making it ideal, safe, and convenient for earnest money deposits, cash-to-close for refinances, and more.

Earnnest Recognized by FinTech Breakthrough Awards Program

RIS Media

“It’s no secret that real estate transactions can be time-consuming and insecure and Earnest is delivering a breakthrough platform to deliver a beautifully simple process and stellar user experience,” said James Johnson, managing director, FinTech Breakthrough.

Banging Down The Door To Home Ownership

The Living Room

Providing a big earnest money deposit. Releasing earnest money either upon mutual acceptance or after the inspection contingency is waived. Banging Down The Door To Home Ownership: How Buyers Are Winning Offers In Today’s Hot Market.

RE/MAX Adds 5 Vendors to Marketplace Roster

RIS Media

The digital payment platform helps integrate and automate real estate payments such as earnest money deposits, agent fees, commission and any other manual payment process. RE/MAX, LLC added five companies to the RE/MAX Approved Supplier program.

The Four Most Common Reasons Home Buyers Back Out of Real Estate Transactions

CT Homes

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.

What is Earnest Money and Why Do You Need It?

Redfin

As you close in on making an offer on a home, your real estate agent – or the seller’s agent – will ask about “earnest money.” How does earnest money work? Earnest money is the money you pay soon after a home seller has accepted your offer on a house.

What to Look Out for when Working with Cash Buyers

CT Homes

Unless you’ve seen the tactic before and know how to prevent it, buyers may take advantage of their Earnest Money period to complete their due diligence. All this happens before any of their money has been submitted to escrow! Low Earnest Money Deposit.

Navigating Bidding Wars During a Hot Real Estate Market

RIS Media

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.

3 Big Reasons Your Home Offer Was Rejected—and How To Play It Right Next Time

Realtor.com

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 also don’t like to give away their money to help someone get into a home,” says Hall.

Everything You Need to Know About Making an Offer: 15 Tips for Homebuyers

HomeLight

Yes, writing a high offer will incentivize the seller, but money isn’t the only factor! It’s really hard because buyers are oftentimes spending the most amount of money they ever spent — and maybe ever will spend — on the purchase of a home. Determine how much earnest money to offer.

The Four Most Common Reasons Home Buyers Back Out of Real Estate Transactions

CT Homes

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.

The Four Most Common Reasons Home Buyers Back Out of Real Estate Transactions

CT Homes

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.

How to Sell your Home for Cash: The Process!

CT Homes

Not only can you control the transaction but you can save money on commission, putting more money in your pocket. Earnest Money Deposit. On every contract there is a line where an Earnest Money Deposit (EMD) amount is indicated.

Earnnest Appoints Russell Smith as General Manager of Earnnest Enterprise

RIS Media

Earnnest, a digital earnest money service in the U.S., “With direct access in popular platforms like dotloop and Lone Wolf Transactions, Earnnest has already become the industry standard for earnest money deposits; now, our platform is poised to be the safest, most streamlined and most secure way to complete every real estate payment type.”

What to Look Out for when Working with Cash Buyers

CT Homes

Unless you’ve seen the tactic before and know how to prevent it, buyers may take advantage of their Earnest Money period to complete their due diligence. All this happens before any of their money has been submitted to escrow! Low Earnest Money Deposit.

What to Look Out for when Working with Cash Buyers

CT Homes

Unless you’ve seen the tactic before and know how to prevent it, buyers may take advantage of their Earnest Money period to complete their due diligence. All this happens before any of their money has been submitted to escrow! Low Earnest Money Deposit.

3 Top Reasons Why Sellers Sue Buyers for Backing Out of Home Sales

HomeLight

Will you lose your deposit? You now have skin in the game in the form of your earnest money deposit, plus you have a legal duty to buy the home (barring certain circumstances). If you miss this window, you could lose your deposit, or the seller could sue you.

0% Down Success Story!

The Living Room

There’s price, down payment, earnest money deposit, inspection period, closing costs, etc… From a seller’s perspective, a 0% down payment means that the bank is 100% responsible for the loan if the buyers should stop making their payments.

Cash Deposits When Buying a Home: What to Know

Point2Homes

Specifically, if you’re hoping to use cash that was deposited into your bank account to contribute to the down payment, you might want to reconsider. That’s because using cash for home deposits could look like fraud and affect your chances of getting a mortgage. Verifying Cash Deposits.

4 Things Sellers Need to Know About Backup Offers

First Team Real Estate

Will backup offers have to submit earnest money? Yes, backup offers are required to make an earnest money deposit.

How to Read a Settlement Statement When Selling a Home

HomeLight

Sellers can expect to pay between 6%-10% of the final sale price in commissions and closing costs, so it’s nice to see exactly where that money is going. It serves as a record showing how all the money has changed hands line by line. What is an ‘excess deposit’ at closing?

How to Start Investing in Real Estate with $1,000

Realty Biz

The more time your money has to compound, the less you have to invest. If you want to reach financial independence in only ten years, well… you need to get more serious about saving money. Another way to get started with little money is to wholesale real estate deals.

Handle Escalation Clauses With Care: 5 Tips for Sellers Negotiating Multiple Offers

HomeLight

In a competitive market , buyers can get caught up in the bidding process, offering more money than the home is worth. If most buyers in your market are depositing $5,000 as earnest money , a $10,000 deposit indicates a strong desire for the home.

The Most Common Home Buying Real Estate Contingencies

Realty Biz

This could involve losing part or all of your earnest money deposit. Many real estate contracts will have earnest money as the relief a seller can get for a buyer not proceeding with a contract. Contingencies in Real Estate Explained.

How to Sell Your Home for Cash: The Process!

CT Homes

Find and Qualify your Buyers Compare Contracts Offer Terms Inspection Contingency Earnest Money Deposit Closing Period Accept an offer and Open Escrow Monitor Transaction Deadlines Close Escrow. Earnest Money Deposit.