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Making
an offer to purchase
Using
comparable home sales
Make
your offer
Ernest
money deposit
Contingencies
in a purchase agreement
Agreeing
on price & terms
Home
warranty
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Ernest
money deposit
Once
you have determined what price you want to offer, and you’ve
completed the purchase contract, you’ll want to decide how
much of an "earnest money deposit" you want to apply
to the offer. This means at the time you write up an offer,
you’ll need to write out a check for the amount you choose. Be
aware that this amount can affect your offer significantly.
Sellers usually like to see a large deposit, because it shows
them the seriousness of your offer and feel confident that you
won’t back out at a moment’s notice. However, you want to be
careful how much you put down as a deposit. You don’t want to
put too much down because that is money that will be tied up
should a dispute occur that might cause the escrow to cancel and
risk your earnest money deposit. But, you don’t want to put
down too little, because that might weaken your offer.
So
the task at hand is to determine "how much is enough?"
Generally, you’ll want to stay somewhere within one to three
percent of the purchase price. In some cases, however, if there
are multiple offers on the same property, applying a higher
deposit might strengthen your offer and persuade the seller to
accept your offer over the others.
Just
so you know, this money you put down as a deposit is applied
towards your down payment.
If
you have any questions, Please call
1-866-624-6873
or
E-mail us!
postmaster@therobertsteamlv.com
©
2001 OChomeprices.com - All rights reserved.
Written
By The Roberts Team
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