Groups are smaller communities within the larger ActiveRain. Join groups created by others. or start your own and
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AR's community takes the time to leave honest and transparent reviews of their experiences
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Each month AR runs numerous contests as a way for our members to engage in activities
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Ask a Real Estate Question
Here's another avenue for you to build relationships with others. Share your expertise with someone searching for answers.
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Your Homepage will alert you of new questions in your state
A wonderful way to open a door to a possible new client
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These state pages or hyper-local pages provide content directly related to a specific geographical location.
State, County, City and Neighborhood pages make it easy for consumers to find what they're looking for.
Post your listings, school information, local events, market reports and more
Consumers peruse these pages for information
Farm your niche market and cover all the happenings in your neighborhood
The deposit is the money put "up front", usually in the form of a Check and accompanied by the contract offer for sale. It is a deposit to demonstrate to the seller that the purchaser is serious about buying the property and is willing to put some money up in advance of the closing to prove their willingness to buy. In other words, the deposit shows how "earnest" the buyer is about purchasing the property.
The amount of an EMD can vary, depending on the purchase price, the location of the property. A larger EMD will make the offer to purchase stronger, since a larger EMD shows to the seller a higher level of seriousness on the part of the buyer.
The earnest money is deposited in a Third Party escrow account. The Real Estate Broker Account or the Title Attorney are the 2 most common places for the EMD to be held.
The earnest money deposit should not to be confused with a down payment, which is the remaining amount that the purchaser is going to pay to buy the house, paid at closing in the form of a wire or a certified or cashier’s check. The earnest money acts as a credit towards all other funds needed for settlement on the property. It is not a extra charge or extra fee charged to buy the property.
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.