Bloomington, Spencer and Indiana University, Indiana Real Estate Listings & Homes For Sale - The Jeanne Walters Team

Options exist to help you avoid foreclosure-including counseling, refinancing, and short sales. Purchasers of foreclosures should be aware that such homes, despite their reputation, are rarely big bargains or easy money-makers, and can be very difficult to buy.

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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 45,000 sq.ft. home on 5-acres on Lake Washington is described as an 'adventurous house' by its owner?
A	The home of Microsoft's Bill Gates ($40+ million) has a wall of 24 video monitors featuring art and film and a 60-foot pool.
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The Jeanne Walters Team, REALTOR®, real estate agent and broker for Bloomington, Spencer and Indiana University, Indiana home listings, property and land for sale - NUMBER1EXPERT

The Jeanne Walters Team
Jeanne Walters Real Estate
107 E 6th Street
Bloomington, IN 47408
Tel: (812) 331-8951
Fax: (812) 331-7532
Toll Free : (866) 877-6677
Email: info@JeanneWalters.com
We truly love our work and we value the opportunity to play a part in our clients' important decisions. With our years of experience, specialized training, and earned designations, we are poised to help you navigate the ever-changing world of real estate. We'd love the opportunity to know you better!

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