If you’re planning to invest in a property, one thing that you might be asked by your seller is earnest money. If you are a first-time tenant, you may take this by surprise, and maybe be presented with a cost that you did not expect. It’s a good faith deposit that you put down in buying a home.
In this episode, Mike Reilly and Mike Ferrante strip down everything you need to know about earnest money, such as the terms and conditions that accompany it. Why do sellers charge you with this deposit? When do you get your money back? Listen to the episode and understand why a business decision is being done that may have consequences to someone else.
This podcast also delivers content that will help you understand more of land contract, property inspection, negotiation, and learn from Mike Reilly’s thoughts on how to be successful in real estate. If you’re a buyer, a seller, especially if you are a novice in the real estate industry, consider this episode to listen and gain a wide range of knowledge along the way.
2:51 Mike Reilly and Mike Ferrante discuss earnest money
17:32 Michael Reilly and Michael Ferrante discuss land contracts
23:25 Mike Reilly and Mike Ferrante talk about inspection and negotiation
