Earnest Money – A deposit made to show a seller that you’re serious. Protected by a variety of contingencies. Protects the seller from default.
Compensation – Working for free isn’t fun! Realtor compensation is always negotiable and in most cases can be negotiated to be paid through the transaction. We’ll walk through the different ways this can be accomplished in the buyer agency agreement.
Due Diligence – Your protection! During this time period your earnest money is protected while inspections are completed to insure the house is what you think it is.
Terms to Know
Earnest Money – A deposit made by a buyer to show that they’re serious. It is protected by a variety of contingencies but is in place to protect a seller from buyer default.
Compensation – We don’t get paid until you get paid! In a real estate transaction our compensation is negotiated up front with you and paid as part of your closing costs at closing.
Due Diligence – Don’t count your chickens until they hatch! Typically between 5-10 days (negotiable). During this period a buyer can conduct inspections, request repairs, and also back out without penalty if they get cold feet.
Until you close it is still your house, please continue to maintain it as such. Please keep your grass mowed, house cleaned and treat it overall the same as you did when it was home. If you need assistance facilitating any of this while you wait for your house to close, please let us know.
Hoffmann Residential Services made buying and selling our home an incredibly smooth experience. From start to finish, they were easy to work with, responsive, and took the time to walk us through every step of the process. As people newer to buying and selling homes, we had a lot of questions, and they were always patient, clear, and helpful in their guidance. Most importantly, they are people of integrity you can trust, which gave us great confidence throughout the entire experience. I would highly recommend Hoffmann Residential Services to anyone looking for a dependable and supportive real estate team.!”
- MILLER THOMPSON