If you decide to purchase a home that is vacant and you know it is still for sale, do you have to put down 1% earnest money? Earnest money deposit is also called ‘a good faith deposit’; it shows you are in earnest about purchasing this property from the seller. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and your contract would be with the owner, and there is no obligation on on the part of the owner to technically have the property “on the market” in order to sell it. The earnest money is a negotiated portion of the contract between buyer and seller. It is customary and should be placed in escrow with a Title Company. Check out below to see what sold in Jamestowne Green in October 2015:
24447 Jamestowne Road, Novi: 4 bedrooms, 2.1 bathrooms, 2,176 sq. feet, 2 car garage, Sold Price: $313,500
Jamestowne Green Home Sold
October 2015
You can work with the listing agent as an intermediary – or to simply facilitate the contract and not represent you – depending on what you and the agent have agreed to do. For more information on Jamestowne Green, or similar Northville or Novi neighborhoods such as Abbey Knoll, Simmons Orchard and Whispering Meadows, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.