When you write an offer you should bring 2 checks.

The first check is for an earnest money deposit, which is deposited by the title company once we have an executed contract.

The earnest money is usually 1-3% of the sales price of the home. These funds are used to demonstrate that you are serious about purchasing the home and provide a possible source of compensation to the seller should you fail to follow through with the terms of the contract.

The other check is a smaller amount ($100 – 400) written to the seller as an option fee. If agreed upon by the seller, the option fee will give you the right to terminate the contract for any reason during a determined time frame (usually 7-10 days).

This time frame will allow you to perform inspections and negotiate repairs if necessary.

These checks are only deposited if we achieve agreement with the seller, and the dollar amounts will go towards your purchase price of the home unless otherwise negotiated.