Quote:
Originally Posted by ohiosbestus
One ting I would strongly recommend to future buyers is that you should not put hardly any earnest money down, when making an offer, we were later told by our realtor after putting a good amount of earnest money down we could possibly lose it if the home doesnt close by the date for some strange reason, we could possibly lose that money.
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Earnest money is returned if the buyer decides during the inspection process that too many things the engineer found need to be fixed and the owner is unwilling to do complete the repairs. That is understandable but from a sellers point of view, I could have a buyer making multiple offers on different homes with little to no earnest money in the absence of a signed contract while inspection is being done. I would not take my home off the market with simply a "binder".