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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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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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Think The Cash Closing Process Is Always Fast? 11 Delays Buyers Should Watch Out For

HomeLight

Problems come up during inspection. However, an inspection contingency will often be used by any buyer, whether they’re using financing or paying cash. Home inspections are typically optional, though they’re very common — and encouraged, with 95% of buyers getting one. But understand that inspections can delay the deal.

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How to Get Cash for Your Home: A Step-by-Step Guide

HomeLight

Here’s a little background on what cash buyers tend to prioritize and look for when they make an offer, according to experts in the real estate and investing industry we spoke with directly. Earnest money deposit. Inspection period. Step 6: Pass the inspection. Motivated sellers.