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Why do I want an earnest money deposit?
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When making an offer to buy Aspen or Snowmass real estate you will also offer to place a deposit with the title company to show your sincerity and ability to make such an offer. Expect the earnest money to be between 5-10% of the purchase price. Normally you would wire the earnest money into the escrow account of the title company a day or two after the contract was accepted. The details are arranged in the contract and are negotiable between buyer and seller.
The earnest money is fully refundable if you terminate the contract before it goes hard. You can have the earnest money deposited into an interest bearing account. Make sure to talk to the title company about that if it is important to you. Or let me arrange the details for you. |
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