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When Shopping for a Home Be Sure to Bring Your Checkbook

By
Real Estate Agent with Aspen Lane Real Estate Colorful Colorado CRE# 40005863

 

When Shopping for a Home Be Sure to Bring Your Checkbook

 

checkbookToday, my business partner, Will Hamm and I took a client out to look for homes.  She thought this would be the first day of many shopping for that perfect home.  Boy was she wrong!

 

The first place we viewed was the one she wanted.  We actually listen to our clients and try to match their criteria with the homes we show them.  That’s what happened today.  The place we showed her was exactly what she was looking for in exactly the price range she wanted. 

 

She was a little overwhelmed by it all.  She asked me what she should do.  I told her we would drive back to our office and write an offer.  She said “Already???”  I said, you want it don’t you or would you rather someone beat us to the punch and buy it out from under you. 

 

Then she said “I don’t have my checkbook with me”. 

 

I was a little confused by this.  She knew we were house hunting and she knew she would have to give an earnest money check with her offer, but she just didn’t think she would be moving so quick.

 

Luckily we have 3 days after Mutually Executed Contract to deliver the earnest money. 

 

We prepared the full price offer without concessions and hope that it will go through. Once she saw it in writing, she got excited and can hardly wait for the seller’s response.

 

I guess Will and I need to start warning buyers to bring their checkbook when they go house hunting with us because we may just find the home they are looking for.

 

 

 

Comments(13)

Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730
Belinda, I had this conversation just this week. It is so surprising that buyers don't think about needing an earnest money deposit. We don't take cash, do you?
Aug 15, 2012 11:25 AM
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Debbie,  That's funny because she asked me if she could give me a credit card.  Of course I told her no cash - no credit cards.  Only checks

Aug 15, 2012 11:35 AM
Sussie Sutton
David Tracy Real Estate - Houston, TX
David Tracy Real Estate for Buyers & Sellers

I think that is crazy... I always carry my check book. I guess I am old school. I may just start caring two blank checks. I don't need 200 of them in my purse, but we will all need at least two check blanks!

Aug 15, 2012 11:50 AM
Larry O'Sullivan
Sandy, UT

Belinda - always remind them, but nearly all forget. My father used to say "If you don't take an umbrella when you pray for rain, you are a hypocrite."

Aug 15, 2012 07:59 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Belinda, Here on Long Island we don't have Ernest Money Deposits and sign Sales Agreements without money involved. After inspection, a contract is drawn by the buyers attorney and that's when the action starts...

Aug 15, 2012 08:42 PM
Jon Eliason
EXIT Realty Advantage Pagosa, Pagosa Springs, Colorado - Pagosa Springs, CO

Belinda ~ I love it when that happens! It's nice we have that 3 day window too!   :)

Aug 15, 2012 11:14 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hi Belinda -- I used to ask this question(sometimes still do) when I would meet buyers at a house or in my office on the way to see a home --- Did you bring your check with you today?   I love the look on their faces.    If not, what are we doing here???  Jokingly, of course.

I rarely ask any more because in the state of California the earnest money can be sent via electronic transfer after the offer is accepted(three business days typically).  Of course, if the property is bank owned or if the seller requests a copy of the earnest money deposit -- a check will be necessary.   

Aug 16, 2012 12:11 AM
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Its funny to see how things differ from state to state.  Yep, in Colorado it is customary to write the earnest money check with the offer. The listing will instruct us exactly how much the seller wants in earnest money with each home.  We had one seller require $10,000 in earnest money with the offer.  We got it and got their home sold. 

Aug 16, 2012 12:26 AM
Peg Barcelo
Fluff My House! Home Staging Inc. 250.486.6369 - Summerland, BC
The FlufftasticStager from Summerland, BC

BB, that sounds like something I would do... I wouldn't think I would find the right place first time out... She should have known better with you and Will on the job!

Aug 16, 2012 12:48 AM
Roy Kelley
Retired - Gaithersburg, MD

Good reminder, Belinda.  Always make sure the prospects have their check book with them.

Enjoy the summertime activities with your camera in hand.

Aug 16, 2012 01:10 AM
Shannon Milligan, Richmond VA Real Estate Agent/Associate Broker
RVA Home Team - Richmond, VA
RVA Home Team - Winning with Integrity.

She probably never had agents as great as you and Will to find her the perfect place right out of the gate! What a wonderful story!

Aug 16, 2012 01:14 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

What a great feeling to have found the one the first day out.  Would've been easier if she had remembered that checkbook.

Aug 16, 2012 01:46 AM
Mona Gersky
MoonDancer Realty, Dillsboro,NC - Sylva, NC
GRI,IMSD-Taking the mystery out of real estate.

Belinda, I guess she's never found such efficient agents before.  More than likely she's always had to spend days and days of looking first.  Congratulations.

Aug 16, 2012 01:47 PM