Home Buying in Edmondson>Question Details

David, Home Buyer in North Miami Beach, FL

what qualifies as an earnest money deposit? also what is the time frame for inspection, that i can change my mind on the purchse if i wish?

Asked by David, North Miami Beach, FL Thu Nov 28, 2013

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Earnest money deposit really depends on the value of a home. With the deposit you are showing your seriousness with your offer. The more the deposit the stronger the offer looks. Remember a seller chooses which contract they accept and there is no requirement to accept the highest offer. The inspection is another thing. The inspection is also part of the offer and should be done as soon as possible. The contingency is written right into the offer. If you would like help or the assistance of an agent please feel free to email, text or call me. I would be happy to assist. Usually when buying a home there is no fee for the purchaser so it does not cost YOU anything.

Joppa MD Real Estate- Shawn Kerr, REALTOR with EXiT Preferred Realty in Bel Air, MD. My goal is to provide superb service in order to meet all of your real estate needs. I am a true professional who will do what is necessary to make that a reality. Feel free to contact me directly at (443) 686-9750.
0 votes Thank Flag Link Thu Nov 28, 2013
Earnest money can be anything of value, but usually it is money in the form of a check, cash, money order or certified funds. Time periods are written in to an offer to purchase and can be any amount of time. Your offer is then looked at by the seller and they decide to accept it as written or not. They can also suggest some changes that you then look at and decide.

Your Realtor can explain all this to you - get one to help you, It's free to you to so why wouldn't you get one?
0 votes Thank Flag Link Thu Nov 28, 2013
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