Alan & Jana Sherwood | JBLM Real Estate Agents

Alan & Jana Sherwood

We are a husband and wife real estate team and native Washingtonians with Yelm Windermere Real Estate. We love what we do and want to share some of our knowledge, our antics we get ourselves into and talk about things to do in the Pacific Northwest and JBML area! Let’s do it!

Episodes

  1. 08/25/2020

    What is Earnest Money and how much Earnest Money should I put down?? JBLM Real Estate | VA Loans

    What is Earnest Money and how much Earnest Money should I put down?? For the YouTube version of this podcast, click here: https://youtu.be/SadZVaTry3U - Earnest Money is considered "good faith" money - The seller is taking their home off of the market for you, putting down Earnest Money shows the seller how serious you are - A strong Earnest Money is generally considered 1% of the offer price. It can be whatever amount you choose though - Earnest Money is usually due within 2 business days from when you go under contract  - Escrow will hold onto the Earnest Money for the duration of the transaction - Escrow will subtract the amount of your Earnest Money from what you will owe in closing costs and/or down payment at closing. Another way to say this is they will apply your Earnest Money towards your closing costs and/or down payment. So your Earnest Money is still used for the buyer's benefit - If you have a zero down loan/VA loan and the seller is covering some or all of your closing costs, the buyer may get some or all of the Earnest Money refunded at close - There are multiple situations that put your Earnest Money AT RISK, so it is extremely important to pay attention to the contract and the timelines spelled out in the contract. If you have a good agent, they will do that for you *wink,wink* Alan Sherwood (360)790-0775 alan@teamsherwood.net Jana Sherwood (206)455-1770 jana@teamsherwood.net facebook.com/teamsherwood https://www.pinterest.com/team_sherwood/ https://www.linkedin.com/in/teamsherwood/ www.linkedin.com/in/janasherwood https://www.tumblr.com/blog/teamsherwood https://www.zillow.com/profile/teamsherwood/ https://youtu.be/SadZVaTry3U Century 21, North Homes Realty #alanandjanasherwood #teamsherwood #thurstoncountyrealestate #thurstoncounty #yelmwa #yelm #yelmrealestate #jblm #jblmrealestate #jblmrealestatemarketudpate #jblmrealestatemarket #jblmrealestateagents #jblmrealtors #alanandjanasherwoodjblmrealtors

    What is Earnest Money and how much Earnest Money should I put down?? JBLM Real Estate | VA Loans

About

We are a husband and wife real estate team and native Washingtonians with Yelm Windermere Real Estate. We love what we do and want to share some of our knowledge, our antics we get ourselves into and talk about things to do in the Pacific Northwest and JBML area! Let’s do it!