earnest money deposit: What is earnest money deposit and how much should we expect?
- 06/08/12 08:37 PM
Your home has been on the market and we receive word an offer is being submitted on your home for sale in Lancaster. You ask, “What is this earnest money deposit?” Earnest money is the money deposited with the contract to show the buyer’s good faith intention to perform the duties of the real estate contract. The lower the amount of deposit, the lower the risk to the buyer if he or she fails to buy your house. This money is refundable to the buyer if the contract is terminated for reasons stated and allowed in the contract, like the … (3 comments)
Author Bio: Specialities of Cal include listing properties and successfully selling them. He does this well through fantastic marketing and an exceptional ability to price a property correctly. He has a thorough knowledge of the marketplace because he produces market reports monthly.
He represents first time home buyers very well because of his patience and communicaton skills. First time buyers rely upon his steady demeanor and tough resolve.
Because of Cal's success in investment property he possesses the ability to assess real estate as an investment. This includes rentals and flips in Lancaster City and Lititz, PA area.
Your home has been on the market and we receive word an offer is being submitted on your home for sale in Lancaster. You ask, “What is this earnest money deposit?”
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