Accepting an Offer

After you accept an offer from a potential buyer, you and the buyer sign a purchase agreement and the buyer puts down earnest money, as stipulated in the contract.
 
Earnest money is a security deposit that demonstrates the buyer is genuinely interested and serious about the purchase. That money is placed in an escrow account, which is a neutral third party that holds all documents, instructions and money necessary to carry out the transaction.

• Home Buyer
  • Buyer Information
  • Guide to Real Estate Transactions
    • Understanding title insurance
    • Choosing a real estate agent
    • Selecting a home
    • Procuring a mortgage loan
    • Ways to hold title to a property
    • Selecting required insurance services
    • Closing the deal
    • North American Title FAQs
  • Real Estate Dictionary
  • NAT Suite
  • Neighborhood data
  • Why Owner's Title Insurance?
  • 50 Ways To Lose Title
• Home Seller
  • Home Seller Information
  • Guide to Real Estate Transactions
    • Preparing your home
    • Choosing a real estate agent
    • Offers and contracts
    • Accepting an offer
    • Closing the deal
    • North American Title FAQs
    • Purchasing your next home
    • IRS 1031 Exchanges
  • Real Estate Dictionary
  • NAT Suite
  • Neighborhood data