In this interview, Kim Dodge welcomes Tim Walters, Principal Broker, with ReMax Equity Group. They discuss your Earnest Money Agreement and Contractual Deadlines in a real estate transaction.
Listen to Tim Walters, Principal Broker with ReMax Equity Group and an expert contributor for the Retirement Ready Real Estate & Finance Show. Tim discusses the Earnest Money Agreement or the Broker/Seller CONTRACT. “It’s very important to not falling out of contract during a real estate transaction – it happens more than you think….” Says Tim.
There are 5 components to a typical real estate transaction and each one of these has a deadline.
– Earnest Money
– Down Payment
– Closing and Possession
Every seller has different needs and wants. Whether it’s the price, the closing date, or earnest money, the Buyers need to know what is important to the seller in order to have their offer accepted.
Hire a knowledgeable and seasoned real estate agent, especially in light of the new, federal regulations on disclosures. Listen to Tim’s podcast and make sure you understand all the parts of the contractual obligations in your next real estate transaction.