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These are the checklists related to Pre-Showings: Earnest Money.

Before we go out and look at homes, you have some homework. Your homework is broken out into steps in under Pre-Showings. These tasks relate to your Earnest Money before we go out and look at homes.

https://RealEstateFinancialPlanner.com/earnest-money/

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  1. Complete "Pre-Showings: Earnest Money" checklist
  2. Discuss typical amount of Earnest Money with Real Estate Broker
    Discuss the typical amount of Earnest Money with your Real Estate Broker.

    In Northern Colorado, Earnest Money is typically about 1% of the purchase price of the property but is negotiated between Buyer and Seller.

    However, offering less Earnest Money than the Seller is requesting on the MLS listing is typically considered a weaker offer.

    If you're buying a property with little or no money down (especially less than what Earnest Money would be), discuss with your Real Estate Broker some possible strategies for trying to get an offer accepted in this situations. It may be harder to get your offer accepted in these situations so you may need to be more flexible in the homes you're looking at until we find a more flexible Seller.

    Mark this task done when complete.

    ASAPEarnest MoneyFinancingMaking OffersPre-Showings: Earnest MoneyUltimate Nomad ChecklistWeek 2

  3. Determine the source of your Earnest Money
    You will need Earnest Money at the time you make your offer. It can vary and is negotiated but it is typically about 1% of the purchase price of the property you're going to buy. Earnest Money typically does count towards your Down Payment.

    For a $300,000 property, that means you'll likely need about $3,000 for Earnest Money at the time you make your offer. Do you know where those funds are and are they readily accessible?

    Discuss this with your Real Estate Broker if you have additional questions or concerns.

    Mark this task done when complete.

    ASAPEarnest MoneyFinancingMaking OffersPre-Showings: Earnest MoneyUltimate Nomad ChecklistWeek 2

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