pa earnest money: Principles of Earnest Money Requirements
- 05/23/11 01:10 PM
I wanted to poll my Active Rain friends for some ideas which are percolating in my mind regarding earnest money deposits. In order to protect sellers, do you have certain requirements regarding the amount of earnest money you would advise your sellers to require with the signing of an agreement of sale? I know. It depends. It depends on the financing situation. But even in an FHA deal, the buyer needs to prove 3.5% of purchase price, so I am beginning to ask for at least 2% of purchase price for the earnest money deposit. What if it is a cash … (13 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.
I wanted to poll my Active Rain friends for some ideas which are percolating in my mind regarding earnest money deposits. In order to protect sellers, do you have certain requirements regarding the amount of earnest money you would advise your sellers to require with the signing of an agreement of sale?
;)
;)
;)
