Home Buying Coarse
➜ Don’t skip the video above. That’s the lesson. The text below is a quick recap you can reference later.
Lesson 5
Writing an Offer + Earnest Money
Writing an offer is about more than just the price.
Overview
Writing an offer is about more than just the price. We’ll structure terms such as contingencies, timelines, and seller concessions to create the strongest offer possible while protecting your interests.
Behind the Scenes
- I prepare the contract, making sure deadlines and contingencies protect you.
- I present the offer to the listing agent and negotiate on your behalf.
- If multiple offers are in play, I’ll advise on strategies to make yours competitive without overextending.
Key Points
- Typical contingencies include inspection, appraisal, financing, and clear title.
- I’ll walk you through what each clause means so you feel confident before signing.
- Once the seller signs, you’re officially “under contract.”
Earnest Money Explained
- Earnest money is a good-faith deposit that shows the seller you’re serious.
- It’s usually 1–3% of the purchase price and is applied toward your closing costs or down payment.
- Funds are held in a trust or escrow account by the brokerage or attorney.
- It is refundable if you cancel within contract contingencies (inspection, financing, appraisal).
- It may be forfeited if you cancel outside of protected timelines.
Tip
Never skip contingencies unless we’ve discussed the risks in detail. They’re your safety net.
Important Note: Contract terms, earnest money requirements, and contingency protections vary by state, contract, and situation. This lesson provides general guidance only. Always rely on your signed contract and professional advice for your specific transaction.
It’s Simple. It’s Nicole.
Text or call 256-452-7135 for real guidance — no pressure, just straight answers.
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