Earnest Money Deposit

Earnest Money Deposit

Typically a buyer will send a copy of an EMD (Earnest Money Deposit) with their offer. The EMD is often for 1% of the purchase price (this can vary). If the buyers choose to walk during inspections they can (in most cases) get their EMD back. A Non-Refundable EMD means that if the buyers walk during the inspection period the sellers get to keep the EMD. If you are fairly certain that you won’t find something during inspections that would make you want to walk from the home this may be a good tool for you to use. It shows the seller that you are pretty unlikely to walk during the inspection period. At the same time it can open you up to risk.

 

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Skills

Posted on

July 19, 2017

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