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What You Need to Know About Earnest Money
Once Homebuyer Representation has shown you all the available homes on the market that fit your budget and match your criteria and you have decided on the one you want to make an offer on, it's time to get serious!
In Utah, in order for your offer to be valid it is required to be backed by what is termed "good and valuable consideration."
In most cases, this means that your offer must be backed by a monetary deposit, called Earnest Money. The larger your earnest money, the stronger your offer. When the transaction comes to a successful close, your earnest money deposit is credited back to you. The money is usually credited toward the purchase price and/or your closing costs. If you breach the terms of the contract, you can lose your earnest money to the Seller so we build protections (contingencies) into your offer to keep your earnest money safe if you decide that you don't want to go through with the purchase based on inspections or other things you discover about the home.
One of the best ways to protect your earnest money is to get Pre-Approved for your loan before writing any offers. 
You can be assured that as your Exclusive Buyers Agent, ... more

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