Dubious Symbolism Every so often, I actually need to mail something to another agent. Most common example: an earnest money check, when a Buyer client prefers not to electronically transfer funds, either due to logistics or security concerns. Which means I need a postage stamp, which means I need to choose a postage stamp. What, No German...Read More
“Earnest Money” vs. “Ernest Money” If your first name is Ernest and you were buying a house, I suppose the check you wrote to go with the Purchase Agreement could be called “Ernest money.” However, for everyone else, the proper term is “earnest money.” 🙂 Definition For those not familiar with earnest money, think of...Read More
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
Buyer’s Agent Beware [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.] Thanks to heightened concerns about the security of online data, Minnesota Realtors are no longer supposed to scan and email copies of Buyers’ earnest money checks when...Read More
