Frequently Asked Questions
Please note that many questions will be answered in the Contract Instructions. We encourage you to read those carefully.
Q. Why are the Contract Instructions downloading as blank pages when they are opened?
A. You must have Adobe Reader version 7.0 or higher. Visit www.adobe.com to get the latest version.
Q. Will the Seller agree to an Inspection Contingency or a Due Diligence period?
A. All inspections should be done prior to submitting an offer.
Q. What is the minimum amount of earnest money deposit?
A. We encourage large deposits as it makes your offer more attractive and is indicative of your seriousness.
For properties listed for under $100,000, $1500 is suggested
For properties listed between $100,000 and $300,000 $2500 is suggested
For properties listed over $300,000 $5000 is suggested
Q. Should I send my earnest money check with my offer?
A. No. Just indicate on page one of the Purchase and Sale agreement how much earnest money you plan to put down.
Q. Can I choose the closing attorney?
A. No. The closing attorney is designated by the seller.
Q. How soon will I receive a response to my offer?
A. Normally, in 5 – 7 business days. However, there are occasions when it could take longer.
Q. Must I use one of the preferred lenders?
A. Not always, but you are strongly encouraged to obtain at least the pre-qualification letter from them.
Q. How are multiple offers handled?
A. It varies by seller but, most often the seller will give all parties an opportunity to submit their “HIGHEST & BEST” offer by a certain time & date.
Q. Do you have to submit all offers that you receive?
A. We are required to submit all COMPLETE offers. Go to the “Contract Instructions” portion of our website to see what constitutes a complete offer.
Q. When should I send my earnest money?
A. Earnest money is not required until 48 hours after an offer is accepted.
Q. Will you take a personal check for the earnest money?
A. No. Earnest money must be Certified Funds either a Cashiers Check or a Money Order.
Q. Who holds the earnest money?
A. The closing attorney.
Q. Can I change the addendums from the bank?
A. No. They may not be changed or altered in any way.
Q. What happens if I don't close on time?
A. You could be subject to fees, penalties and possibly loss of your earnest money.
Q. When should I call to see if my offer was received?
A. DO NOT CALL to see if your offer was received; it slows down the process and prevents us from getting the offer to the Seller as fast as possible. You will be notified via email in ONE business day that we've received your offer.
Q. What is the best way to communicate with your office?
A. Email is the preferred method to communicate with us.
Q. Does the seller pay a real estate commission on the sales price even if there are seller concessions, like closing costs?
A. No. The seller pays commission on the net sales price. Sales price less concession.
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