What To Look For In A Home Purchase Agreement

What it is: In short, a home warranty is a guideline that covers the cost of repairing many home appliances in the event of a failure. Basic coverage starts at around $300 and goes up to $600 for more comprehensive plans. The caveat: If you withdraw from the transaction for a reason or eventuality described in the purchase contract, you will get your serious money back (more information on the unexpected next). However, if you decide not to buy the house for anything not included in the deal, the seller can keep the money serious. The time of ownership of the house by the buyer must also be determined. While most home buyers can move in right after graduation, some sellers may ask for more time in the house because they need to find another apartment or their new home isn`t ready to move into yet. Why it matters: In an aggressive seller market, many homes get multiple deals. One way to highlight your offering is to offer a slightly higher EMD (think 4% to 5%) to grab the seller`s attention, says Washington, D.C., a Metro robyn Porter real estate agent. That being said, “many buyers want to make the smallest possible deposit to limit their risk of loss,” says Bruce Ailion of Re/Max Town and Country in Atlanta. .