Greater Seminole County Real Estate Report 7-21-21: Achieving real estate serenity is the dream! Here’s what you need to know about earnest money and hiring movers to make your life easier!
From start to finish, many steps go into the completion of buying and selling a home. Some of them are quite obvious, while others seem to be tiny, insignificant details. Even though it is impossible to achieve a buying, selling, and moving process that is virtually stress-free, it doesn’t hurt to get as close as you possibly can. Knowledge is key to achieving real estate serenity. In this week’s newsletter, I will share with you the importance of earnest money and must-know tips to make your next move easier!
What Do You Need to Know About Earnest Money?
Earnest money comes into play very quickly after a home goes under contract. The money is paid by the buyer and is intended to show the seller how serious they are about purchasing the home. The amount of earnest money typically equals at least 1% of the purchase price. So, for example, a house with a purchase price of $200,000 will have at least $2,000 in earnest money. This money sits in a separate account and is applied to the loan at closing.
Benefits
Earnest money is beneficial for both the buyer and the seller. At any point before the due diligence period ends, or if contingencies are not met, the buyer can walk away from the home and receive a full refund.
On the other hand, the seller gets to keep the money if the buyer walks away for no apparent reason after the due diligence period ends. It is a way to reimburse the seller for the trouble of having to remarket the home and start the process over.
As anxious as you may be to reach the transaction’s closing, it is crucial to take the earnest money seriously!
Tips for an Easier Move
No doubt you are ready to start the next chapter of life! First, you have to get over the hurdle of moving. The most important decision you make is hiring movers. Hire the wrong movers, and it can spell disaster. Follow these tips when shopping for the right movers:
- Get started early – As soon as you know you are moving, it is time to plan!
- Shop around – Get estimates from several different companies.
- Verify movers – Ensure the company you choose carries the appropriate insurance and is licensed by the Florida Department of Agriculture and Consumer Services by visiting https://www.floridaconsumerhelp.com.
- Moving company or broker – A company uses in-house resources while a broker only arranges transport by selling your move to a moving company.
- Purchase moving insurance – Protect your valuables by purchasing either released value protection or full-value protection.
Let Us Help You!
Achieving real estate serenity is every buyer’s and seller’s goal. An experienced Realtor can help you accomplish just this. Gitta Sells is here to help you with all of your real estate needs. Feel free to reach to me at 407-330-2181 or gittasells@gitta.com with any questions you may have!
