Methow Valley Buyers and Sellers: What Happens with My Earnest Money?
By Mary Lockman, Methow Valley Real Estate
(Windermere Real Estate Methow Valley)
The most common question I hear from Buyers is what happens to my earnest money? You have found that perfect home. You are ready to work with your Realtor in writing up a purchase and sale agreement, the Earnest money that is included with most offers is a very important component. Since it is your money that will be deposited according to the terms you and the Seller have agreed upon, logically it may be a concern. Earnest money is a negotiable item in any transaction. How much, when deposited, and when it becomes non-refundable are just a few of the terms that can be agreed upon in an offer. There are multiple layers to the meaning behind the earnest money. One) Earnest money shows the Seller how earnest you the Buyer are in wanting to purchase the subject property. Two) Earnest m...
Comments
0