Earnest Money question

[Pamalicious]

Ok, so I see a house I want - I'm a little short :p on the fundage - they need $500 in 'earnest' or 'intent' money. Exactly when do they cash this check? Can I write the check and hustle it up after the fact? Anyone with the answer please let me know.

[Juicey1]

The cash the check after the deal has been made or near closing I believe. If I am incorrect someone please correct me. I can't really remember. I just remember having to write out so many checks for this and that, that I can't remember if and when they cash that check.

[ice-c]

You have 10 days to back out of the deal...after that 10 days they can cash that check IN TEXAS.

Soft is bout to get her license....she would know the particulars for GA.

juicey is correct in that they cash the check after the deal is made....technically when you sign the contract...THE DEAL IS MADE.

[Pamalicious]

Thanks cause I'll have it next Friday when I get paid, just not tomorrow when I go look at the house again.

[ice-c]

Tell your agent....

that its not good until next week.

Your agent should be able to tell you exactly how long it will be held...before cashing.

[seductive_tee]

My check was cashed about a week after all parties agreed on the contract. Talk with your agent, he/she may hold it a day or two if need be.

[Pamalicious]

Tell your agent....

that its not good until next week.

Your agent should be able to tell you exactly how long it will be held...before cashing.

Thanks! If you read the real estate post that house I liked is back on the market so now it's decision time.

[ice-c]

be sure to offer at LEAST 10k less than what they are asking for....

[Pamalicious]

be sure to offer at LEAST 10k less than what they are asking for....


property owned by the bank and they are not negotiating. they want the full $109900 - but I am looking at some other things too that ain't the only house on the block, just the one out of the 15 I've seen so far that says Pam at the moment, lol

[Pamalicious]

and yes I will be asking my realtor but I figured hell can ask here too: I have to pay for the appraisal - do I do that at closing? or I need that money now as well.

[RockYoKoo]

Ok, so I see a house I want - I'm a little short :p on the fundage - they need $500 in 'earnest' or 'intent' money. Exactly when do they cash this check? Can I write the check and hustle it up after the fact? Anyone with the answer please let me know.


My two cents is here :)

http://www.randydurham.com/earnest_money.htm

[Pamalicious]

My two cents is here :)

http://www.randydurham.com/earnest_money.htm

Thanks! I read this last nite when I was surfing and getting information. I also read it in my 100 questions firsttime home owners ask. I like to get book learning and real life experience in the pot, lol thanks again Rock!

[RockYoKoo]

Thanks! I read this last nite when I was surfing and getting information. I also read it in my 100 questions firsttime home owners ask. I like to get book learning and real life experience in the pot, lol thanks again Rock!

Your welcome, my DAD is an agent, we have owned many homes and sold them. I have always been around the Buzz words, but I never like to post something unless I know know, without a good site to back my words up :)

[ice-c]

The appraissal depends on the appraissor...

I did one the other day and the guy wanted his money UPFRONT BEFORE the appraissal.

But normally it's a part of the closing cost.

[Pamalicious]

The appraissal depends on the appraissor...

I did one the other day and the guy wanted his money UPFRONT BEFORE the appraissal.

But normally it's a part of the closing cost.

Thanks just talked to my loan officer and she said I can either pay them if I go with them to appraise or give her the check and she'll pay once she gets the appraisal. I'm gonna do this thru hook and crook, lol I told sakinah we might cut everything off but the lights and gas, lol We have a goal and a mission and everything else can wait, lol So cable, phone, internet ya'll might be saying bye bye temporarily, lol

[ice-c]

i admire your courage.

[seductive_tee]

you know what, i never met my appraisor.

[Sparkles]

can you loan Pam the money till next week!!LOL sorry pam! I dont have any input but I appreciate all the information that has been provided in these few thread about home ownership...

Oh btw- that house is beautiful, not sure how the other homes you have view checked out, but I would be in love with this one too.

[Pamalicious]

can you loan Pam the money till next week!!LOL sorry pam! I dont have any input but I appreciate all the information that has been provided in these few thread about home ownership...

Oh btw- that house is beautiful, not sure how the other homes you have view checked out, but I would be in love with this one too.

Thanks Girl. I'm obsessed. The last time I was this way was when I was thru with Philly and wanted to move here. Noone including me thought I could pull it off but then I just got the 'drive' and pulled it off. I'll be having a yard sale next weekend since people will be out and about for the holidays. I have these two glass cabinets I just store junk in. They will be going on sale at the job on our internal flea market site tomorrow morning and my dolls will be on Ebay in the next couple of days. I can do this. I am fine with running it - I just am not good at acquiring more than $300 at one time, lol

[ice-c]

tee...there is absolutely no need to meet your appraisor.

pam...did u mention the YEAR of the property u r interested in?

hopefully not too old...the less maintenance the better...and ask the seller for a home warranty....it's standard in texas.

[Pamalicious]

tee...there is absolutely no need to meet your appraisor.

pam...did u mention the YEAR of the property u r interested in?

hopefully not too old...the less maintenance the better...and ask the seller for a home warranty....it's standard in texas.


1993, AS IS, no disclosures, no warranty. I've been in it and going back in it tomorrow and of course have it inspected.

[ice-c]

yes, home inspections are KEY.

the home inspector points out stuff that one would never ever think of....