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Highest rated Recent Oldest. Brian RaylAgent, Dallas, TX. Sun Mar 27, Abby, how is this for a possibility: You get your inspection and find out there is major roof damage, foundation damage, or the house needs a new AC. Your inspection goes fine. All of a sudden, your lender says "I'm sorry, but something popped up on your credit report and you no longer qualify for the loan.

The home owner has a tax lien and the title company says that they cannot confer a clear title. Your home loan is going great, but your lender says they need another week to finish processing the documents. Your closing date is this week. Lets say you want to ask for ANY changes to the contract. Why should the seller negotiate? There is no reason to.

If the buyer agrees to it, then why not? Is it SMART for the buyer? Because it's more than real estate.

Rick SinclairAgent, Cape Girardeau, MO. Thu Mar 24, Nobody offers Earnest Money if they're NOT interested in buying ALL of which "could be" hidden by the seller LOSE their Earnest money? I do NOT consider that a "no brainer"!!!!!! ANY Realtor in my firm that would allow their Buyer's to BLINDLY walk into a transaction like that without FIRST disclosing the possibility of LOSING their Earnest Money would probably NOT be working in my firm!

I don't give a RIP about what the SELLER is protecting I PROTECT MY BUYERS! Which is why there are protection clauses in a Contract For Sale.

I wouldn't allow a listing like that. Let them go to the competition Sharon VestAgent, Grants Pass, OR. Wed Mar 23, I would say "no way! A seller should be dancing a jig just to have an offer in today's market conditions. Sometimes the REO banks will make it non-refundable but normally even they give you the opportunity to withdraw and refund your deposit if the home won't finance or inspections don't turn out right PROVIDED you have done everything required of you to put forth your best effort to comply with all of the terms and conditions of your lender and your purchase agreement.

As said before, read carefully before signing and if still in doubt, counter with your exceptions or reject and go find a willing seller. IN Florida that would be illegal. I would not put down a truly nonrefundable deposit unless you are absolutely positive you can get financing and that there are no problems with the condition of the house and nothing will be discovered during inspection.

Contingencies exist for a reason and protect the buyer from items discovered after the opening of escrow or if financing falls through. Consult your agent on this, and if you don't have an experienced adviser, get one.

You stand to lose a lot of money if something goes wrong. I would not advise my client to enter a deal like this. Guy GimenezAgent, Austin, TX. Tue Mar 22, How does it affect the buyer? If you have money to burn, move forward. In my opinion, It is an unacceptable risk. Don GroffAgent, Austin, TX. Consult with your Realtor. Typically you want to be able to get your earnest money back if financing falls through after your option period has ended.

Make sure you have an option period to do an inspection and if you are a cash buyer this would make more sense. I always try to structure as many "outs" as possible for my clients so make sure your agent goes over the possible issues of this request. On the flip side I always try to earnest money tax credit down the buyer when I am representing the seller. Good luck with your purchase. Gold farming guide wow 5.4 Groff REALTOR Mortgage Broker Consultant Keller Williams Realty Lending Group Tony McMahonAgent, WHITE PLAINS, MD.

Without seeing all of the documentation, it sounds like they are looking for a firm commitment on your part to see the deal through to the end. You should review the counter offer with your agent and or runescape best way to make money f2p mining real estate attorney.

Wed Aug 22, Honestly, If I was representing you I would of done everything in my power to steer you clear of the possiblity of losing your hard earned money. Now, if you were advised by your consultant to do so and things went south I strongly recommend you contact their broker so the agent can at the min.

I wish you the best of luck and pray everything went smoothly. Jeanette IgoeAgent, Estero, FL.

Can I write off the lose of earnest money while trying to buy a - TurboTax Support

Thu Aug 2, If he's buying the property, basically it's his down payment and he'd better not walk away from the deal, he will lose his deposit. Non refundable means, no contingencies, don't expect to walk away because the seller has repairs to make, inspections won't get you out of it. Not really good for a buyer if they truly haven't made up their mind and of course they can throw association private client stockbrokers investment managers counter back that states, non-refundable only if property passes inspections and contingencies are met.

Donnie Keller runescape how to make free money fast, Agent, Fort Worth, TX.

It reduced your bank account by that much. Non-refundable means it's gone for ever. I'm in the process of renting a house. I gave the landlord half on the deposit which he wrote on a that says non-refundable earnest money. I haven't moved prediksi eur usd hari ini the property yet.

Is there any way thatI can receive my deposit back? Why is there a Non-Refundable option? Are you offering to buy the house? The owner is willing to take it off the market for you to purchase at a future date?

Earnest money Definition | aqasesuyohaw.web.fc2.com

Why wouldn't you put down the deposit, must make sure it is in an interest bearing account and you receive the interest at closing and the deposit towards your closing costs. Sounds like a no brainer to me. Do It, unless you really don't intend to buy! The Seller is protecting his interest, I am sure a year from now the price for the home may go up, you will have sealed a great deal at the current price. Make sure your contract states "Price to be Paid" at closing. Billy GaviganAgent, beaufort, SC.

As a buyer you will get the home for less if you are prepared and a seller will sleep better at night binary options whether to start your buyer is for real Billy Gavigan Best forex robot forum Gavigan Group.

It tells the buyer to STOP NO buyer is going to consider earnest money tax credit an offer without protection of their Earnest Money.

can i claim earnest money/options deposit as tax break? - TurboTax Support

As a Realtor, my advice to a buyer would be keep looking. In Missouri, a Buyer's Earnest money is protected by an Inspection Period, Loan Committment and Title Committment Periods. If an inspection brings up something the buyer's couldn't see and they decide to look elsewhere I don't think so. I would NEVER list a home for sale if the Sellers would only accept an offer with a "non-refundable" earnest money. I'd get stuck MARKETING a home that no buyer in their right mind would consider making an offer.

Dallas TexasAgent, Dallas, TN. You need to confer with your buyers agent unless entire review of documents are presented no one can render an opinion. Kim SullivanAgent, TX.

I also agree with the other professionals that answered your question. Consult with your Realtor or an attorney. If you do not have an agent get one! This only one of the problems that can occur. You want someone that can help you and that are looking out for your best interest.

We would have to see the documents to really know. Non refundable means yolu would lose your 6K if the deal did not close. Joseph DominoAgent, Scottsdale, AZ. Not unless you like giving your money away. There are many reasons real estate transactions fall through. Many are out of your control. A fair contract allows for return of EM if the deal falls through based on something out of your control. I would never allow one of my Buyer's to agree to this.

If you lost your EM would you be able to buy another home? If not what will you do? There are too many other properties on the market, and more coming on each day.

Which means the earnest money check is made to the seller and it's his regardless if you close or not. This is ok if you are paying cash but not if you are getting a mortgage. Also, I wouldn't post the nonrefundable until after I had done my inspections. Don't reley on someones words or intentions.

Only go by what is on the contract. Something like this would be defined and controled in the contract. You need to read the paragraph in the contract that covers this very carefully. Non refundable is a little unusual but not unheard of. I would be telling my buyers to think hard on doing this unless there was a very good reason for the need of it or they wanted the home no matter what. Bruce LynnAgent, Coppell, TX. You need to have your realtor explain this to you.

We need to see the entire contract. On the typical Texas contracts there is option and earnest money. If you are STOP Bruce Lynn Keller Williams Realty. Michaela CannonAgent, Menifee, CA. The seller will have to show how they were damaged. It won't be easy and there is, at least in California, case law to support the buyer and win back most if not all of your EMD. Google Non-refundable Earnest Money Deposit California.

California Lawyer Magazine posted an great article, albeit inthe case law might still be good. When is earnest money refundable?

Be the first to answer. Appraisal contingency and missed closing date. Does this affect the Earnest money.? After signing a Mutual Release from a Contract, how long does a seller's broker have to return the earnest money deposit to a buyer? NJ Be the first to answer. Ask our community a question. Real Estate in Fort Worth. Home Buying in Popular Fort Worth Neighborhoods. Popular Categories in Fort Worth.

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