Jun
22
Good faith deposits are a fundamental part of
June 22, 2009 |
Good faith deposits are a fundamental part of a realestate transaction. Buyers should expect to pay them and sellers should demand them. As with most transactions, this percentage is negotiable. The good faith deposit simply establishes that the buyer is serious and, to some extent, has the financial capacity to follow through on the buy. Although percentages vary from state to state, a cash deposit equal to three percent of the sales price is [...] Depending on the laws in your state, a buyer who can’t close will lose the deposit.
Maryland real estate
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