Earnest money homes

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Highest rated Recent Oldest. Mon Feb 10, In working with cash buyers, I have found that going heavy on the earnest money deposit will make your offer look stronger. That being said, I agree with all of the other answers that there is really not a "normal" EMD.

Pam BavaAgent, Rochester, MI. Fri Apr 15, Hi Twin, I have had many cash sales in the past year and I think I had one bank ask for a certain percent down. If this is something new I have not come across it that often. But I will tell you this, you have to remember you may not be the only cash offer submitted so you do want to place a strong offer.

If you really like the house give them an EMD that shows you are serious. Make sure all your paperwork is in clean order and don't forget the letter from the bank showing you have the funds. If they have to ask for more paperwork that takes time and may put your offer on the side.

You'll have as good a shot as any.

Making an offer on a house, and paying Earnest Money

Any questions, I do work in your area, feel free to contact me. Good luck Pam Earnest money homes, Realtor realteellc hotmail. Karen PaytasAgent, Clinton Twp, MI.

Especially in a mulitple offer situation. The santander share price buy sell feels more secure how to start investing in stock market malaysia you are going to go forward with the transaction.

I've had this experience on multiple deals lately. Good Luck, Karen Paytas, GRI, CMS Realtor Real Living Kee Realty earnest money homes mirealsource. Instead, I would suggest that they submit an offer for at least asking price if not higher, depending on comparable sales in area and condition of home.

Chip AndisAgent, Waterford, MI. As a real estate professional in Michigan I try to advise my clients who are cash buyers that they should expect a counter from the selling bank, insisting on a 10 percent earnest money deposit.

I am careful that the purchase contract gives my client an ability to have the deposit returned under certain circumstances. Then with acceptance of the offer the bank, especially if it is a Fannie Mae, will come back with 10 percent requirement. The deposit goes toward the purchase of the property and will be shown on the closing statement. Telegraph Rd Waterford, MI Office JonesAgent, Birmingham, MI. There's nothing set in stone, but you may risk losing the deal if you are in a competing offer situation.

Mark MergenerAgent, Farmington Hills, MI. Earnest money is nothing more than a good faith deposit to demonstrate the seriouslness of your attempt to purchase a property. Call if I can help! Mark Mergener Cell Marsha CashAgent, McDonough, GA. Is earnest money important? Ask our community a question.

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The Facts about Earnest Money Deposits | umypecodayok.web.fc2.com

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