26 Tips You Should Know To Get Your Home Sold Fast For The Highest Amount and Less Hassle!
Because your home is more likely your largest asset, deciding to sell your home is not a decision that you should take lightly.
Everyone wants to sell their home for top dollar, fast and for the least amount of money.
It is unreasonable for any buyer to ask a seller to take a house off the market without a reasonable deposit of good faith
Yes, there are contingencies in a contract and sometimes even this deposit becomes one.
You could have a contract where the "Good Faith deposit" will not be deposited into the closing agent's escrow account until all inspections have been cleared.
In some cases, you may get an initial smaller deposit with the contract as they offer (the buyer) to pay an additional deposit when the inspection contingencies are completely cleared.
You can't spend the deposit money. .even if you're the one holding on escrow. . until
What happens if your buyer backs out from the sale of the property by another reason NOT covered by any agreed
contingency?
My advice is to be sure on this by speaking to an attorney. . .If the buyer believes otherwise. . this could potentially cost you time and money.
To protect yourself from any misunderstandings sit down with the buyer and fully understand the conditions of the contract as you both agree to the terms
There are no gray areas here. .
Just to be sure. ..let me repeat it again. . talk to an attorney!
What happens if the good faith deposit money is not enough to cover the damages the buyer may have caused you?
Let me repeat it again. . talk to an attorney!
There are no limits here. . and I know that the deposit amount is never one.
So how much should you ask for a deposit?
1%?
3%?
5%?
25%?
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