This real estate video discusses the topic of earnest money. After committing to the price the home buyer is willing to pay for the purchase of their new home in the contract, they are agreeing to the earnest money that will be put up in order to demonstrate to the home seller that they are a serious buyer and are committed to the transaction. Earnest money is typically 1% of the purchase price. The conditions of the earnest money are written into the contract and as long as everything goes according to plan and the buyer buys and the seller sells the earnest money will be applied to the buyers closing costs.
Todd Tramonte
Broker/Owner of Market Experts Realty & The Todd Tramonte Home Selling Team
Real Estate Author of Live Free: The Art Of The 2-Year House Flip
http://www.DallasHomeRealty.com
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Your idea is outstanding; the issue is something that not enough people are speaking intelligently about. I am very happy that I stumbled across this in
Thanks Fara. We’re glad this could be a helpful resource for you. Please check out some of our other videos as they might be helpful to you or someone you know.