I have decide I am not an on- line class taking person. The motivation is for real difficult especially since nice weather is on the way. Speaking of weather Mother Nature has lost her cool
Escrow Money And Purchasing A New Home
When Do You Pay the Earnest Money, and Who Holds It?In most cases, after your offer is accepted and you sign the purchase agreement, you give your earnest money deposit to the title company. In some states, the real estate broker holds the deposit.Always check the credentials of the firm or broker taking the deposit and verify that the funds will be held in escrow. Never give the earnest money to the seller; it could be difficult or impossible to get it back if something goes wrong.After turning over the deposit, the funds are held in an escrow account until the home sale is in the final stages. Once everything is ready, the funds are released from escrow and applied to your down payment.
Can You Get Your Earnest Money Back?If the deal falls through, a small cancellation fee is usually taken out of the deposit, but the remainder remains in escrow. Whoever holds the deposit determines whether you should get the money back under the terms of the purchase agreement. Make sure that the purchase agreement covers how a refund is handled.To be on the safe side, make sure the purchase agreement covers how a refund would be handled. Keep in mind that even if you are pre-approved for a mortgage loan, you can be declined when you apply for one. In such cases, standard contracts allow you to recover your earnest money deposit. You can also usually get your money back if you find problems with the property. (courtesy of Realtor.com)
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Let it grow let it snow let it grow! One of the best ways to grow your income is to buy investment properties! This current market has much potential and upside for the wise investor! however not