Wednesday, January 12, 2022 / by Brittany Aspenson
If you're looking to make buying your first home your biggest goal this year, it’s crucial that you lay the groundwork as early as you can. And it’s important, especially in today’s competitive housing market.
Fortunately, there are some pretty simple but huge steps you can take to get into the home-buying game on a strong footing. By understanding the ins and outs of the process and doing as much preparation, you’ll be empowered to make the best decisions to be able to purchase your dream home.
1. Educate yourself about the home buying process.
There are many avenues where buyers, especially first-time buyers, can educate themselves about home buying and homeownership. You can start with various credible online articles, real estate blogs, and enroll in homebuyer education programs and courses usually offered by the government and other housing counseling agencies.
Educating yourself will help you become confident in your decision-making ...
Friday, January 1, 2021 / by Client Care Coordinator
These are the most common questions we receive from buyers, so we've compiled them for your quick reference!
How much earnest money will I need?
The industry guideline is generally 1% of the sale price. If the seller is a lender, they may have a minimum requirement that must be adhered to. However, increasing your earnest money is a good way to make your offer more enticing to a seller.
When does my earnest money check get deposited?
Within 3 business days after acceptance unless stated differently in the Purchase Agreement. The money is held in the Trust Account by the seller's broker or by a title company, and applied to your down payment at closing. If the the purchase agreement becomes null and void, the buyer may have to wait at least 10 days to receive the earnest money refund.
How much will my mortgage be?
This amount will depend on the agreed upon sales price, how much money you put down, and whether you are financing yo ...