(Untitled)

[serrahok]

Yay, we have internet! Woot! No more borrowing Dad's computer. Now we're just stealing his DSL connection directly. We set the network up in the garage

Comments

[annietopia]

If I understand correctly, earnest money is an amount of money you put down that basically says you are really serious about wanting the place. If you were to back out at the last minute...like they approve you, go through all the paperwork, and you then change your mind right before the closing...you lose the earnest money. This is mostly because the person who is selling you the property has to stop taking any other offers once they agree to yours. If you were to back out a month later, the seller has lost that whole month of possible serious offers. Usually you then put the earnest money towards your downpayment when you finally close. I think you can request to just get your earnest money back at the closing, but most people don't do that. Ask the realtor how much earnest money is required...I cannot imagine it is a huge amount but I don't know.

I hope I explained that well, and I hope I am correct. We have bought two homes now, and I am pretty sure that is how the earnest money was explained to us.

[misswitch1369]

Do some quick research and find out if your state has any first-time homebuyer help. Sometimes they will pay your downpayment for you. Couldn't hurt to check it out.