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Tuesday, April 03, 2018   /   by Laura Miller Edwards Realty Group

How much does it really cost to purchase a home?

Purchasing a home is a fun and exciting time in your life however can bring a lot of questions and uncertainties. The first step is contacting a qualified Realtor® to guide you through the home purchasing process. Step number two is talking to a preferred lender to get pre-approved and determine what you can comfortably afford so you don’t stay up late at night worrying. Once you have your home buying team by your side and selected the perfect home – now what?
Earnest Money – A seller wants to know you are serious about purchasing their home when they accept your offer. Earnest money shows the seller you have skin in the game and is typically 1% of the purchase price. Don’t worry this will be applied to your purchase at closing. The buyer’s broker immediately deposits the check into their escrow account. If not submitted with the offer, the earnest money check is required to be turned into the broker within 1-5 of days after you enter into a binding c ...

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