Earnest Money Deposits – How Much and When?

  When buying real estate in Charlotte NC, one of the common questions buyers have is about earnest money deposits. How much should an earnest money deposit be and when is it paid?

  The amount of earnest money deposits for real estate in Charlotte NC are always, always, always negotiable between buyer and seller.  The amount of earnest money is always a negotiation point that both buyer and seller must agree on.   

  For a $100,000 purchase price the earnest money deposit buyer/seller agree on probably won’t be the same as for a $1 million purchase price but regardless, the amount is a term that buyer and seller must agree on and be comfortable with.

  As for when an earnest money deposit is paid, a copy of the earnest money check should accompany the offer to purchase Charlotte NC real estate. Once there’s a valid contract agreed upon and signed by all parties, the earnest money is deposited in a trust account to be held until closing.  So buyers should be ready to write the earnest money check at the time they sign an offer and it (or a new check for the agreed upon amount) will be deposited in a trust account once there’s a written contract.

Related Articles: How To Estimate Real Estate Taxes for Real Estate In Charlotte NC

What Do You Value in A Charlotte NC Home?

Choosing A Charlotte NC Neighborhood

What To Do Before Buying Real Estate In Charlotte NC

Copyright©2009 by Diane McDermott, All Rights Reserved, “Earnest Money Deposits – How Much and When?”

Advertisements

About dianemcdermott

Joyfully divorced, Diane is passionate about sharing her story, experience, wisdom and insight from this beautifully brutal life. Passionate about heartfelt connection in all areas of her life she is a public introvert and most enjoys connecting with and spending quality time with friends, chosen family and clients that are uplifting and inspiring. Her core values of connection, humor, integrity, authentic alignment influence all aspects of her life. She is intentional in all that she does. Diane is the founder and owner of Between the Lines LLC Ghostwriting Services and McDermott Real Estate LLC
This entry was posted in Buyers, Real Estate and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s