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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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Agent commissions are being negotiated more often, but it’s a ‘tale of two markets’

Housing Wire

Like with the amount of earnest money deposit or including an inspection contingency, the amount the buyer is asking the seller to pay her agent is a term that impacts the strength of the offer,” Redfin chief economist Daryl Fairweather said in a statement.

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Sun West unveils NFT loan powered by AI technology

Housing Wire

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.”.

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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. . If you take time to prep your credit and finances, get pre-approved for your mortgage and enlist a great agent, achieving the American Dream may be easier than it seems. The bottom line.

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How Much Earnest Money Is Normal? Earnest Money Deposit Mistakes

Realtor.com

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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What Is a Mortgage Contingency? Purchase Offer Protection

HomeLight

A mortgage contingency protects you in such situations, ensuring that you’re not left holding an empty bag if the financing falls through. These typically include the amount of time you have to secure financing and the acceptable terms of the mortgage (like interest rate and loan type). Essentially, it’s a safety net.

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3 Times Your Earnest Money Deposit Could Be At Risk

Dwell Real Estate

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