Steps of the Deal

These are all of the steps in a real estate transaction.

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Steps of the Deal What is Earnest Money? I’m glad you asked! Earnest Money Explained Earnest money is considered to be a good-faith deposit. It shows the home seller that the home buyer is serious about purchasing their property. The amount is typically held in escrow until closing. Here is an example. Let’s say you found your perfect home and want to buy. […]
Contracts What is a Financing Contingency? Excellent question. I’m glad you asked! The financing contingency is part of the purchase and sale agreement. It is a clause that states if the buyer is unable to secure financing (e.g., a mortgage), they can terminate the transaction, and their earnest money will be returned. It is part of the financing addendum (Form 22A […]
Contracts What is a Buyer’s Agency Agreement? Great question! Thanks for asking! To get this out of the way, I am not a lawyer. I’m a real estate agent. While I use these contracts and am well versed in them, you should check with your local state laws. The United States is a Republic of States. If you haven’t noticed recently, not […]
Home Inspections What is an Inspection Response? Great question. Thanks for asking! In the world of real estate, the journey from listing to closing is filled with crucial steps. One of these is the home inspection. Having a property inspected is vital in a real estate transaction. This process can be a turning point in any real estate transaction. It often uncovers […]
Steps of the Deal What is Mutual Acceptance? Mutual Acceptance is when the buyer and the seller have agreed on the terms of a purchase and sale agreement in a real estate transaction. Imagine you are in the market for a house. You make a list of what is important to you such as location, size, and style. Then you go to the […]
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