Merit Real Estate

Causes for Forfeiting Earnest Money

forfeiting earnest money

There are 3 main causes for forfeiting earnest money deposit when buying a home. When entering into a purchase contract as a home buyer, a buyer agrees to execute specific timelines and terms. Failing to do so can lead to forfeiting their earnest money deposit. Generally speaking, a purchase contract protects the buyer from being […]

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Out of Pocket Costs When Buying a Home

out of pocket closing costs

In addition to your downpayment, there are significant out of pocket costs associated with purchasing a home. These various ‘closing costs’ typically costs homebuyers between 2 and 5 percent of the purchase price.  Here is a list of typical ‘closing costs’. Typical Out of Pocket Costs When Buying a Home These costs vary greatly based […]

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The Ultimate Guide to Buying a Home Sight Unseen

Buying a home sight unseen

Buying a home sight unseen is not new. Recent polls of homebuyers have shown that over 20% have submitted offers without stepping inside the home. Similar surveys have also shown that about 50% of Millenial buyers have submitted offers without visiting the home first. Older generations are open to the idea as well. As technology […]

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