2017-03-29 12:46:45 Understanding the Real Estate Purchase Contract: W
In a Real Estate transaction, Earnest Money is a form of a security deposit to demonstrate that the Buyer is serious about purchasing the property. It is issued as a form of good faith to secure the property while they are under contract and performing all the necessary inspections and appraisals.
In this video we talk about the amount of Earnest Money that should be paid, which usually is about 1% of the purchase price.
Throughout the next few weeks we will post different videos on the topic of the Utah Real Estate Purchase Contract and what you need to know to successfully buy and sell your next home.