Moot Issue . . . Unless the Deal Hiccups One of the biggest concerns residential home Buyers have is who holds their earnest money check. Due once there is an accepted Purchase Agreement, earnest money typically is equivalent to 2% – 5% of the purchase price, and plays a dual role: a) it signifies the...Read More
When the (Earnest Money) Check ISN’T in the Mail Normally, the Buyer’s earnest money check is due as soon as the Buyer and Seller have entered into a valid Purchase Agreement. However, I just handled a deal where the Buyer’s offer stipulated that the earnest money wasn’t due until after the Inspection Contingency had been...Read More
Pre-Closing Jitters First, a caveat (actually, two): 1) most residential real estate deals close on time with no — or small — last-minute issues; 2) good agents proactively work to anticipate and resolve any such issues. That said, you still worry — albeit Sellers typically more than Buyers, especially in today’s housing market and economy. One potential...Read More
