Easily Insert Currency from the Real Estate Purchase Contract

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How to Insert Currency from the Real Estate Purchase Contract

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due to several requests on todays video Im gonna do a tutorial on exactly how to fill out a real estate purchase and sale agreement and specifically what you need to include to make sure the contract favors you the investor now this is a video you dont want to miss because Im also going to show you how to fill it out digitally in minutes so that you and the seller can sign it electronically making it completely paperless not to mention easy and convenient Im also gonna share with you how to get my contracts for free all of that and more coming up I just you know are the nations leading expert on flipping houses and if youre new here to make more money in less time flipping houses so you can live your dream life subscribe to my channel click the bell I kind of get notified when new videos are released okay here it comes I am NOT a lawyer nor am I giving legal advice you are a big boy or big girl you are responsible for your actions so all we see competent professional legal advic

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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Who gives earnest money back?

The earnest money typically goes towards the buyers down payment or closing costs. It is refunded to the buyer only upon certain contingencies specified in the contract. If the buyer cancels the contract outside of the contingencies, it is released to the seller.

What is the purpose of the earnest money?

Earnest money has become standard, especially in todays competitive real estate markets. The purpose of earnest money is to tell the seller that youre serious about purchasing the home. By backing up your offer with some cash, a seller is more likely to trust that youll follow through with the home purchase.

Who calculates earnest money?

Your real estate agent will help you determine a competitive earnest money deposit for your area. Often, a seller will ask for either 1% to 3% of the purchase price or request a set dollar value, like $5,000 or $10,000.

How do you make money assigning real estate contracts?

The assignor basically works as a middleman or contract flipper, selling their right to buy the property they are contractingwith equitable interestin exchange for an assignment fee from the potential homeowner.

What is meant by earnest money deposit?

A deposit submitted with a purchase offer to show that the buyers offer is being made in good faith.

Who holds earnest money deposit?

Typically, you pay earnest money to an escrow account or trust under a third-party like a legal firm, real estate broker or title company. Acceptable payment methods include personal check, certified check and wire transfer. The funds remain in the trust or escrow account until closing.

How to fill out a Kansas real estate purchase contract?

Identify the address of the property being purchased, including all required legal descriptions. Identify the names and addresses of both the buyer and the seller. Detail the price of the property and the terms of the purchase. Set the closing date and closing costs.

Who keeps earnest money?

This down payment is called the Earnest Money, and the person holding it on the buyers behalf is called the Escrow Agent. Typically these funds are held by the Escrow Agent until closing when they are paid over to the seller and credited to the buyer towards the purchase price for the home.

Who keeps earnest money if deal falls through?

If the buyer cant close for any reason, the contract is bdocHubed and the seller can keep the earnest money deposit.

What is money deposited by a buyer after entering into a purchase contract?

Earnest money is essentially a deposit a buyer makes on a home they want to purchase. A contract is written up during the exchange of the earnest money that outlines the conditions for refunding the amount. Earnest money deposits can be anywhere from 110% of the sales price, depending mostly on market interest.

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