Housing Wire

FEBRUARY 4, 2021

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. Of course, nothing’s impossible. If buying a home is on your radar for 2021, there are still ways to do it. just this year. The bottom line.

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Housing Wire

FEBRUARY 9, 2021

Specifically, they want to be sure it’s worth the money they’re lending you and, most importantly, that they’ll recoup their investment if you default on the loan. Change your closing date to a more convenient one for the seller. If you didn’t have the contingency, you’d have to forfeit your earnest money deposit in order to back out.

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Housing Wire

SEPTEMBER 14, 2023

It started with Lone Wolf Marketplace, which brought essential connections into Lone Wolf Transactions — rental screenings, disclosures, home warranty, title insurance, digital earnest deposits and more. As competitive as real estate can be, it’s also collaborative. Consumer expectations have changed dramatically in the last few years.

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Housing Wire

MARCH 29, 2022

Consider, for instance, the multitude of scenarios that require lenders to take another look at assets between loan qualification and loan closing. Maybe closing delays have caused the original asset data to become aged. Or maybe the lender just needs to verify the source of a borrower’s earnest money deposit.

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Realtor.com

OCTOBER 29, 2020

That’s why we’ve put together a home closing checklist, which outlines your action points in those few days leading up to settlement. Keep this closing process list handy to know you’ve done what you need to in order to close the deal. Get all contingencies squared away. Clear the title. Get final mortgage approval.

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Redfin

FEBRUARY 18, 2025

Can you roll closing costs into your mortgage? Basically, folding your closing costs into your loan means you’ll need less cash upfront at closing. What are closing costs? Closing costs are fees and expenses you pay when you finalize a real estate transaction, whether you’re buying or selling a property.

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Redfin

MARCH 11, 2025

Key takeaways: Earnest money is a good-faith deposit that shows the seller youre committed. Earnest money is not the same as a down payment, but its usually applied toward your down payment at closing. What is earnest money? Does earnest money go towards the down payment?

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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. Natee Meepian/Getty Images For first-time home buyers, finding the perfect place to settle down is hard enough. But hold on!

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BAM Media

MARCH 5, 2025

Match the Sellers Ideal Settlement Date Many buyers overlook this, but flexibility on the closing timeline can be a game-changer. Match the Sellers Ideal Settlement Date Many buyers overlook this, but flexibility on the closing timeline can be a game-changer. If the seller needs a quick close, line up financing to accommodate.

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GeekEstate

AUGUST 19, 2021

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. Yes, check fraud is a thing!

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Redfin

FEBRUARY 28, 2025

From the down payment to closing costs, there are a lot of expenses to consider. So, how much money do you really need to buy a house? Earnest money deposit Earnest money is paid after a seller accepts your offer on a house. Buyers pay this amount prior to closing on a home.

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HomeLight

MARCH 2, 2023

People who live here love the proximity to some of the west coast’s best beaches, as well as being close to destinations like Disneyland, Joshua Tree National Park, and the deserts of Palm Springs. Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well.

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Redfin

MARCH 18, 2025

But what actually happens to that money once the deal closes? Understanding how earnest money works can help you feel more confident as you move through the homebuying process. This Redfin article will break down exactly what happens to your earnest money at closing, and what to expect in different scenarios.

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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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HomeLight

JUNE 23, 2022

If you need assistance navigating the legalities of keeping earnest money from a real estate transaction, HomeLight always encourages you to reach out to your own advisor. What is earnest money? Earnest money is often referred to as a “good faith” deposit. 5k for a $500K home).

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HomeLight

JUNE 29, 2022

Whether it’s dealing with price negotiations or determining a timeline for closing and moving out of the property, you’ll want to step into the process already knowing your objectives and what to expect from prospective buyers. Making enough money off the sale to fund the downpayment on a new home. Chester Ardolino. Real Estate Agent.

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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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HomeLight

JULY 31, 2020

Closing on a house seems pretty straightforward. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. While seamless closings are ideal for everyone involved, they almost never happen unless the buyer is paying cash on the home, and even then there can be a roadblock or two.

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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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HomeLight

DECEMBER 12, 2023

A common worry among homebuyers is to find the perfect house, put down a deposit with an accepted offer, and then learn that your mortgage application is denied — you lose both the house and your earnest money. The most experienced agents know how to safeguard your earnest money and time.

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HomeLight

MARCH 6, 2023

The Bay Area is also close to beaches, national parks, and the wineries of Napa Valley. Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more.

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CT Homes

AUGUST 31, 2020

Even when you have a signed contract you still need the inspection, appraisal, insurance and closing to go off without a hitch. In most cases, the seller will opt to fix any minor updates either before the transaction or issue a credit at closing. Completing a successful Real Estate Transaction is difficult. Financing Issues.

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HomeLight

JANUARY 24, 2024

Your goal is to safely make it to the closing date without the deal falling through. In this guide, we’ll break down the mortgage contingency date vs. the closing date, and how contingencies can impact your journey to homeownership. The most experienced agents know how to safeguard your earnest money and time.

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HomeLight

SEPTEMBER 11, 2020

That means buyers who want to close a deal need to come prepared with their A-game when it comes to making an offer. Yes, writing a high offer will incentivize the seller, but money isn’t the only factor! Even a pandemic failed to slow down the 2020 real estate market. What are some making-an-offer-on-a-house tips that they can follow?

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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. Awareness of these trends can help you identify opportunities and make more informed decisions.

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HomeLight

JANUARY 12, 2022

How long does closing take from here? But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021. Average time to close.

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HomeLight

OCTOBER 30, 2020

But is the cash closing process always seamless? 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. 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. Because it’s fast.

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HomeLight

JULY 12, 2024

As a buyer, the two main purposes of escrow are to hold your earnest money and manage the funds related to the sale until all conditions of the escrow agreement are met. After the purchase, there will still be money that needs to be managed as part of your mortgage agreement and tax and insurance requirements.

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HomeLight

JANUARY 10, 2024

They influence both your decision-making and whether you are able to close the sale on the home you want. If the inspection reveals major problems, this contingency allows you to renegotiate the terms, request repairs, or even back out of the deal without losing your earnest money deposit. What does this mean to a buyer?

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HomeLight

JUNE 28, 2023

You’re likely weighing your resources to make certain you’ve planned properly for a down payment, closing costs, and a monthly mortgage payment. But the first financial step toward making it all happen is presenting an offer with earnest money. Get Started What is earnest money in real estate?

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Point2Homes

NOVEMBER 29, 2022

The earnest money deposit. However, since a real estate transaction is rarely as straightforward as sending the seller the agreed amount of money and getting the deeds in return, using escrow is strongly recommended. Once selected, the account is typically opened when the buyer places their earnest money deposit into it.

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Real Trends

NOVEMBER 3, 2022

In addition, Opendoor says that homebuyers may back out of the purchase at any time and receive a full refund on their earnest money deposits. The firm says the experience is “designed to put home sellers in control, with no upfront commitment, flexibility to close early, and certainty of close.”.

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HomeLight

MAY 24, 2022

If you only pay cash for the down payment, and take out a mortgage for the remainder of the purchase price, it keeps more money in your pocket. Sellers tend to prefer all-cash offers because those deals close more quickly. He estimates that on a $200,000 house, you could save between $5,000 and $6,000 in closing costs.

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CT Homes

NOVEMBER 24, 2020

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. Low Earnest Money Deposit. At face value, working with cash buyers should be easy and simple. Cash, As-Is, no appraisals… easy peasy!

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HomeLight

AUGUST 31, 2021

It’s the moment when you can’t bear to see another piece of paper related to your home sale that you’ll receive the settlement statement — also known as a closing statement in real estate. 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.

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HomeLight

JULY 26, 2022

Knowing that they will save money by not paying the listing agent’s commission, a seller might list their home at a lower price than they would if they had hired an agent. You’re driving around a neighborhood you love, and then up there in the distance, you see a sign in a yard. Is it a yard sale? A political sign? A contractor’s information?

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Realty Biz

MAY 24, 2022

That was six weeks ago and now the buyer says he isn’t going to buy the house because he doesn’t have enough money and he doesn’t want to take out a mortgage at an interest rate that is higher than it was when he signed the purchase agreement. You did get an earnest money deposit, didn’t you? Answer: Hello Shelly.

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