First time home buyer due dilligence tips for earnest money agreements.

“We have learned that many first time home buyers and even some investors do not know that a standard earnest money agreement is non-refundable. These buyers are also not always aware that a refundable clause can be written into the good faith agreement to protect their interests. For example, language outlining that the money is non-refundable contingent upon specific home inspection results, property appraisal outcomes or additional seller disclosures. Well thought-out protective measures can be written into any contract to be executed by both parties for a successful transaction with minimal hardships”.

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