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Making an offer to purchase Contingencies in a purchase agreement
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Ernest money deposit Once you have determined what price you want to offer, and you’ve completed the purchase contract, you’ll want to decide how much of an "earnest money deposit" you want to apply to the offer. This means at the time you write up an offer, you’ll need to write out a check for the amount you choose. Be aware that this amount can affect your offer significantly. Sellers usually like to see a large deposit, because it shows them the seriousness of your offer and feel confident that you won’t back out at a moment’s notice. However, you want to be careful how much you put down as a deposit. You don’t want to put too much down because that is money that will be tied up should a dispute occur that might cause the escrow to cancel and risk your earnest money deposit. But, you don’t want to put down too little, because that might weaken your offer. So the task at hand is to determine "how much is enough?" Generally, you’ll want to stay somewhere within one to three percent of the purchase price. In some cases, however, if there are multiple offers on the same property, applying a higher deposit might strengthen your offer and persuade the seller to accept your offer over the others. Just so you know, this money you put down as a deposit is applied towards your down payment. If you have any questions, Please call 1-866-624-6873 or E-mail us! postmaster@lasvegashomefinderteam.com
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