Earnest money deposits – first time home buyer tips

Earnest money deposits – first time home buyer tips




A first time home buyer asked me where that earnest money deposit went to.  He wanted to know if it was part of his down payment.  The simplest way to explain it is that the earnest money you give me when signing the purchase agreement is applied as a credit to you at closing.

How to prepare your home for sale

So the title company will deduct that from the purchase price and the amount you need to bring in.  It will show up on the final hud in black and white.

For example if you are buying a $125,000 house and you put down $2000.00 it will show up as a deduction from the purchase price.  i.e.    $125,000

–               2,000

$123,000 so you will owe that minus the loan.


Search Oakland County foreclosures and homes

I hope this clarifies how the money is handled.


Do not let somebody else get the best home deals.  Join my Foreclosure VIP club and get the newest lakefront foreclosures and the newest lakefront listings emailed to you daily.

Lakefront Homes for sale in White Lake Township Michigan

West Bloomfield real estate and West Bloomfield relocation information – part 1

Cancer check up time

Homes for Sale in Livonia Michigan

Homes for Sale in Westland Michigan!!!

An error has occurred:

[0] Remote request resulted in a [403 Forbidden] response. More Info


Tagged with: