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How to Avoid Losing Earnest Money Deposit When Buying a Home

RIS Media

Buying a home involves multiple steps, including providing an earnest money deposit. This deposit is a sign of good faith between the buyer and seller. However, losing this deposit can be a significant financial setback. It indicates the buyer’s commitment to purchasing the property.

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Killer Tips For Negotiating a Home Inspection

Realty Biz

One of the most vital phases of buying a house is having it inspected. Home inspections over the last few years were few and far between. The crazy hot seller's market forced many home buyers into forgoing their inspection. It has led to home inspections coming back in vogue again.

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10 Ways Agents Can Help Buyers Win More Offers in a Competitive Spring Market

BAM Media

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. Sellers want certainty, and a significant deposit shows that your buyer is serious.

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Earnest Money and House Deposits Explained

Rochester Real Estate

The Essentials of Home Deposits When you make an offer on a house , you want the seller to take their property off the market. This isn’t without risk for the seller, and to show you are serious about the purchase, a good faith house deposit is required. The answer depends on who didn’t follow the contract properly.

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What to Look Out for when Working with Cash Buyers

CT Homes

I.e. they’re giving up the right to… perform further inspections review seller’s disclosures confirm clean ownership with a title report complete a final walkthrough… … in addition to plenty of other protections that are standard in a purchase contract. Long (Unnecessary) Inspection Periods.

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How to Read a Settlement Statement When Selling a Home

HomeLight

Yes, a settlement statement is the same as a closing statement, though “settlement” is the formal term most likely to be used by the real estate industry. What is an excess deposit, and who will receive the funds listed on that line? Let’s say the buyer put down a $7,000 earnest money deposit on a $100,000 home.

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What to Know About Buying a Home For The First Time

Rochester Real Estate

If your offer is accepted, you will sign a purchase agreement and pay an earnest money deposit. Home Inspection The home inspection will show if this is a property you want to buy. If major issues are highlighted in the inspection report, you can negotiate with the seller over repairs, or they could credit you.