How to Lose Your Earnest Money Deposit and Ways to Avoid It

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There is a lot of terminology that you hear during the home buying process, and if you plan to purchase a home in the near future, you may have heard the term Earnest Money Deposit. If you haven’t or don’t quite know what it means, you’ll want to read on because it’s pretty important.

Most people must put some amount of money down on a home as a deposit when they submit a bid or offer for the home they want to buy. It’s typically written into the purchase agreement as an Earnest Money Deposit (EMD), or referred to as a good faith deposit, and it lets the seller know you are serious about your bid. This can also make your offer more attractive if there are multiple offers in place.

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How to Choose a REALTOR When Selling Your Home

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Most people only sell their home a few times in their life, so choosing the right agent is a serious concern. Naturally, you want a talented agent so you get the best home that doesn’t have any hidden issues all at a price within your budget.  An agent who fails to negotiate properly on your behalf can be costly and affect the potential income recognized from the sale of your home.   Continue reading “How to Choose a REALTOR When Selling Your Home”