Email The Earnest Money Needs To Be Delivered Per The Purchase Agreement
Earnest Money Is Typically Due Within 24 Or 48 Hours Of The Acceptance Of The Purchase Agreement
Earnest Money Is Typically 1% Of The Purchase Price. This Amount Will Most Often Become Part Of Your Down Payment At Closing. Earnest Payments Are Held In An Escrow Account Typically By The Listing Brokerage. That Payment Demonstrates To The Seller(s), That the Buyer(s), Are Serious About Closing On The Purchase Of The Property. Most Purchase Agreements Have Contingencies, Like Mortgage, Inspection and More. These Contingencies Typically Allow For Full Refund Of The Earnest Money Under Certain Conditions.
Personal Property Payments Are Typically Due At Closing Or Before Possession If Given
Payment for Personal Payment is the amount on the Personal Property Agreement that all parties signed. Checks for Payment of Personal Property must be made payable to the Seller(s) and must be paid with a Certified or Cashier's Check issued by your bank.
First Month's Rent And Security Payment Are Due Before The Landlord Will Sign The Lease
Payment for the 1st Month's Rent & for the Security Deposit are the amounts shown in the Lease Agreement. Checks for Payment of 1st Month's Rent & for the Security Deposit must be made payable to the Landlords(s) & must be paid with a Certified or Cashier's Check issued by your bank.
You Can Pay The Earnest Money With Either a Personal Check, A Bank Check Like a Cashier's Check Or A Money Order, Or You Can Easily Pay Electronically Using The Earnnest App
Just Let Your Agent Know Which Option You Prefer!
Paper checks typically need to be hand delivered to the Listing Broker's actual office. Note with a hand full of Brokerages you may be able to drop off the Earnest Money check at a nearby branch office. However, more often the Earnest Money check will need to be delivered to the Listing Agent's actual office which can be in another part of the Greater Indianapolis Area!
Another option, that eliminates the hand delivery of the check, is that you can pay Earnest Money with the largest digital Earnest Money service in the USA that provides a secure, compliant and fully digital / electronic transfer of Earnest Money funds at a 1-time cost of $24.00. You can use the "online" Earnnest App from any computer, or a mobile device with internet connectivity.
NOTE: Some National & Regional Builders Also Support/Require Paying Earnest Money Using An Electronic Direct Payment Process.
Paying The Earnest Money Electronically Using The Earnnest App
Ask Mitch About The Value Of A Properties In An Area You Are Considering!
If you're like most home buyers, you want to pay the least amount of money for a property. And, what a property is worth in terms of Market Value, and what it's worth to you as the buyer, could be two very different amounts!
While only the Buyer can decide what it's worth to them, real estate professionals doing an Appraisal or a Market Analysis are sharing their personal opinions on the Market Value at that point in time. Real estate Market Values though are not like a ten-dollar bill that is worth $10 regardless of if it’s crisp and brand new, or if it’s twenty years old, dirty and torn. Neither the condition of the bill in your hand as the buyer, the condition of other ten-dollar bills, nor the location of where you are holding that ten-dollar bill will change its value! If the Market Value of real estate was also this precise and exact, just like the value of a ten-dollar bill, then there would frankly be no need for real estate agents!
Accurately evaluating the value of a house, townhouse, or condominium is a complex calculation that leverages years of experience and expertise like Mitch has, as one of the Top REALTOR's in the Greater Indy area! So let's start at the very beginning - with the RIGHT price! And the best way to find the RIGHT price is to ask Mitch.
1/3 Is About The Property Itself: The Location, Condition, Updates, Bed & Bath Count, Size, Age & All Features
1/3 Is About Similar Places For Sale A Buyer Could Also Buy, At The Same Time, In The Same & Similar Areas
1/3 Is About What Similar Properties, In The Same Or Similar Areas, Have Sold for In The Last 6-12 Months
Learn About 4 Common Ways To Determine The Value Of A Property - The Most Accurate (4 stars) To Least Accurate (1 star)
Instant Online Value Estimators
The Iron Triangle Of Service: Good, Fast, And Cheap -- PICK TWO. You Can Never Have All Three, As The Saying Goes!
Online Value Estimators are Fast and Free... And Free is the ultimate definition of cheap! So, since you can NOT have all three, and these online instant valuations are Fast and Free, then that means these Estimators can NOT also be Good!
There are many real estate and lending websites offering estimators out there. You can use this if you want a general estimate of your home may be worth. While these can help you decide if it’s worth considering selling or refinancing, these sites tend to dramatically undervalue or overvalue property values. So, using these when selling or purchasing a new place could create unrealistically high or unreasonably low expectations that could cost you thousands of dollars as both a seller or a buyer!
About Mitch
Mitch leverages his local expertise, combined with his meaningful business and life experiences, and decades of professional leadership and growth in the construction and technology industries to contribute to his success as one of Greater Indy's Top REALTORs.
Mitch is committed to helping change the lives of his clients as they start their next chapter, by making it easier, more enjoyable and more profitable for his clients that design, build, buy, and sell their home, condo, townhouse or investment property!
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