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Cliff Lewis (610) 509-9834
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Making An Offer >Keeping Your Earnest Money Safe
When you make an offer on a house, it is accompanied by an earnest money check. Earnest money is intended to demonstrate that you are "in earnest" about purchasing the property. The earnest money check is made out to the listing company. What happens to this check?
The party holding the check acts as an escrow agent until you go into closing. At that time you will receive credit for the amount of your check against the down payment and closing costs. Real estate brokers are required by law to keep escrow funds in a special account. These funds cannot be used to pay any other expenses associated with the sale. If you don't complete the transaction, the purchase contract determines the disposition of your earnest money funds. Be sure to review this part of your contract with the real estate agent.
If you are in default on your agreement, the funds may go to the sellers, so be sure that you understand the deadlines in order to avoid breach of contract and forfeiture of your deposit. If you have any questions, be sure to ask your real estate agent for advice.
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| Q |
What is the average price for a home in the United States?
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| A |
According to recent data published by the NAR, the national median price for existing single-family homes is now $230,000. |
 See More Real Estate Trivia > |
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Cliff Lewis
Coldwell Banker Hearthside
2200 Sullivan Trail
Easton, PA 18040
Cell Phone: 610-509-9834
Office: 610-252-4200 Ext. 137
Fax: 61-923-7165
clifflewis@NUMBER1EXPERT.com
*Committed to procuring the best overall deal for all my clients
* A worldwide corporation with global connections partnered with an individual who has a process driven vision of you and your new home. I can take you there; in fact I have the keys! Together with Coldwell Banker Hearthside, I have the power to move you and save you an awful lot of time, trouble & money along the way . If you've made the decision to move no matter what stage of the process you're in, you'll need a dedicated professional who puts your needs first.
* I have raised the bar in industry standards as a trust worthy, real estate specialist who possesses a commitment to honesty, integrity, communication and good old fashioned hard work. I will do nothing less than fulfill the great expectations you seek in a Realtor, put my ability, resources and market knowledge to work for you! 
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