Is My Real Estate Deposit Refundable?
Thursday, 24 March 2011 by Editorial Team
Video Summary
The short answer is that whether or not your deposit is refundable depends on the terms of the contract. Hopefully your contract was prepared by a realtor or attorney.
Often real estate contracts contain terms stating under which conditions the deposit can be refunded. One such condition is called a “financing contingency” and allows for refund of the deposit is the potential buyer is unable to secure financing and provides appropriate documentation. A condition may also state that depends on the inspection of the property or in case of damage, a deposit may be refunded.
Additionally, condominium purchases may contain a different set of rules regarding the deposit. A contract to buy a condo may allow for the potential buyer to cancel the contract with a refund upon receipt of the documents pertaining to the condominium association.
- Published in Real Estate - Buying, Videos
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Who Prepares a Real Estate Contract?
Thursday, 24 March 2011 by Editorial Team
Video Summary
There are standard residential real estate contracts approved for use by the Florida Associator of Realtors, but it is not recommended that a person undertake to complete such document himself. The documents require much information to be filled in and several decisions to be made regarding the terms of the contract. Generally, a contract is prepared by a realtor or an attorney. The preparer may be working in behalf of either the buying or selling party.
If you would like assistance in preparing a real estate contract, please contact Waller & Mitchell at (727) 847-2288.
- Published in Real Estate - Buying, Videos
Buying a Home Video Index
Sunday, 26 December 2010 by Editorial Team
- What Is a Split Refund?
- What Can I Do If a Seller Fails to Disclose Something?
- How Does A Lender Determine A Borrower’s Eligibility For A Loan Modification?
- How Many Loan Modifications May A Borrower Receive?
- Why Would My Spouse Have To Sign If I Am Going To Live On The Property?
- Why Do You Wait Until The Day Before Closing To Tell Me How Much I Need For Closing?
- Is a Survey Necessary When You Purchase a Home and Obtain Bank Financing?
- Can I Back Out of a Home Purchase if I Already Signed a Contract and Placed Money in Escrow?
- How do I Know if the Property I am Going to Buy has a Lien Against it?
- How Do I Know if the Property I am Going to Buy is in a Deed Restricted Community?
- Do I Need Flood Insurance to Get a Mortgage?
- What Advice Would You Give to a First Time Home Buyer?
- How Many Days Does a Broker Have to Return Escrow When a Deal Falls Through?
- How Do I Add My Spouse To The Deed On My Property?
- What Does A Title Company Do?
- What Is Title Insurance And Why Is It Necessary?
- Can A Buyer Sue The Seller For Failing To Disclose A Prior Water Issue?
- Am I Required To Have An Escrow Account With My Morgage Payment?
- Is It Legal For A Real Estate Agent To Represent Both Buyer And Seller?
- When Is A Certificate Of Occupancy Required?
- What Is A Recourse Loan?
- What Is A Subprime Mortgage?
- What Has Changed Regarding Home Mortgages?
- Are There Any Florida Laws Involving Pets I Should Be Aware Of As A New Property Owner?
- Do I Have Any Recourse In Obtaining A Home Warranty That Was Promised But Never Delivered?
- Is A Land Contract Still A Viable Means To Purchase A Home?
- Is a Home Warranty Worth the Price When Purchasing a Home?
- Can a Home Equity Loan Be Used to Purchase Investment Property?
- What Recourse Do I Have if My Builder Does Not Finish My Home by the Agreed Upon Date?
- Do Property Repairs Have to Be Completed by the Seller Before Closing?
- Why Do I Need Title Insurance?
- Can You Terminate a Home Purchase Agreement If Not Satisfied With the Home Inspection Results?
- Is a Seller Required to Disclose a Death in the Home?
- Should a Purchaser of a Home Include a Mold and Radon Inspection in their Contract?
- Why Do I Need to Hire a Lawyer to Prepare My Real Estate Contract?
- If I Buy A Mortgage from an Investor, Would It Fall Under The Dodd Frank Act or The Safe Act?
- Can a Bank Refuse to Lend Money if the Home Has Radon?
- Can a Seller Avoid Paying Closing Costs by Having the Buyer Pay Them Cash on the Side?
- Can I Buy a Home if I Have Bad Credit?
- Am I Required to Get a Survey When Purchasing a Home?
- What Should a First Time Home Buyer Know Before Making an Offer on a Home?
- Who Pays Title Insurance?
- Should I Sign an Exclusive Buyer Representation Agreement?
- How Much is Saved at Closing, If I Pay Cash for the Home?
- Can I Finance a Home for My Children?
- Why is My Mortgage Lender Asking if My Bank Accounts Have Been Seasoned?
- Does an FHA Mortgage Have More Costs and Requirements Than a Conventional Loan?
- Does It Cost Money to Refinance My Home?
- Should I Invest In a Vacation Rental Property?
- What is FHA Mortgage Insurance?
- How Is An FHA Mortgage Funded?
- Update on Flood Insurance Legislation
- What Do I Need to Know Before Buying a Short Sale Home?
- What is the Impact on the Value of Waterfront Homes with the New Federal Flood Insurance Act?
- What is FSBO and Does it Save Me Any Money?
- Can I Buy a Homestead Property Free of Judgements Against the Owner?
- What Should I Look For When Reviewing a Real Estate Contract?
- How Can I Decide What Mortgage is Right for Me?
- What Role Does an Attorney Play in a Real Estate Transaction?
- Will The Bank Reduce The Interest Rate On My Loan?
- How Does Buying a House Affect My Income Taxes?
- What is “PMI”?
- Should I Get Mortgage Insurance?
- What Is A Piggy Back Mortgage?
- What Is A Non-Qualifying Assumable Mortgage?
- What is a Purchase Money Mortgage?
- What Does PITI Mean?
- What is a Wraparound Mortage?
- When do I Need a Title Search?
- Should I Buy a Foreclosure Home?
- Should I Buy a Short Sale Home?
- What is an Amortization Schedule?
- What is a Land Contract?
- What is a Lease with Option to Purchase?
- What is an Agreement for Deed?
- What is Owner Financing?
- How Do I Buy or Sell a Property “As-Is”?
- Buyers Beware!
- What Closing Costs Do the Buyer and Seller Pay?
- Do I Need Title Insurance?
- Is My Real Estate Deposit Refundable?
- Who Prepares a Real Estate Contract?
- Buying a Home Video Index
- Published in Real Estate - Buying, Videos