Once a buyer settles on a home, they often show their commitment with an earnest-money deposit.

It is proof that a buyer is committed to completing the sale. Earnest money is used as credit toward the down payment and closing costs. When a market is competitive, offering more earnest money may be one way to get your offer to stand out.

The Importance of Being Earnest: All About Earnest Money Deposits

Real estate pro Robyn Porter in the Washington, D. But she is also careful to warn her buyers that their deposit money could be in jeopardy if they default binary trading for beginners the contract.

Watch for giving up other contingencies, like waiving earnest money mortgage contingency issues, appraisal issues, or problematic title searches. Earnest Money Mistakes to Avoid.

Earnest Money Mistakes to Avoid Daily Real Estate News Tuesday, February 21, Failing to understand exactly what an earnest-money deposit is.

Not offering up enough.

Not abiding by earnest money mortgage contingency timelines. View the discussion thread.

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Making an offer on a house, and paying Earnest Money

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