What is Earnest Money?
Earnest Money
#shorts
Earnest money is like a deposit you include with your offer to show the seller you’re serious about purchasing.
Earnest Money is generally around 1% of the purchase price.
You’ll be required to submit that money within a few days of going under contract. It is held in a non-interest bearing account at the title company until you close.
If you terminate the contract due to a contingency such as Financing, Appraisal or Inspection, your earnest money is returned to you. If you proceed, it is applied to your purchase at closing.
Once you you are past any contingency deadlines, your earnest money is not refundable. So those deadlines are very important.
Let me say it again….those deadlines are VERY IMPORTANT.
Our our team, there are at least 3 people watching your deadlines at all times. Myself, my teammates and our contract to close coordinator Kelli. Kelli is a real hawk about paperwork, and she is constantly checking on contingency deadlines.
Three sets of eyes on your contract are better than one. We all work together to make sure nothing gets missed.
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Buying + Selling in Nashville?
WENDY MONDAY
BROKER
PARKS REAL ESTATE
@wendymondaysellingnashville on social
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📧 [email protected]
📞615.642.1313
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ABOUT WENDY
Wendy is a Nashville real estate veteran consistently ranked as a top producer in the market.
She has a true passion for the business and over 14 years of experience selling Nashville. She’s seen the city’s growth over the years, and has personally owned all types of property in the greater Nashville area.
Wendy bought her first home and then her investment property as a single woman, and now she and her husband own several commercial and residential investment properties in and around Nashville.
Wendy and her team of agents, Natalie Sawyer, Caroline Melvin and Mary B Hammet, along with client services coordinator Kelli Monday, are dedicated to making the process smooth for every client. Each woman on the team brings a unique skill set and valuable perspective, and they are dedicated to making the process smooth for every client.
Wendy and her husband JT and their little boy Wulf live in the Germantown neighborhood of Nashviille in an 1880’s home they restored in 2019.
Wendy Monday, Broker
PARKS Real Estate
[email protected]
615.642.1313
www.wendymonday.com
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