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.
Broker/Owner of Market Experts Realty & The Todd Tramonte Home Selling Team
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