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It was actually my decision for the high earnest money deposit. It shows the bank that the buyer is serious. I also put no inspection contingency as well. The agent I used is also the seller agent, which is why I didn’t have to fight with imaginery multiple offers. Though I can’t say she is after my best interest, or the sellers. It’s quite clear she’s after HER best interest. Which is fine with me.
Personally, I would never waive the inspection contingency on any home, even a new one. I want to know what is wrong with a place up front.
Oh I guess I did not mention this with that statement. My father is a contractor and we feel he's more than qualified to inspect the home on the initial viewing. If I had to hire someone for an inspection, he'd be the guy. I look for the appeal of the home, while he looks for damages/coverups/bad design and things that cannot be fixed with reasonable effort.
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Hey does anybody know the answer to this? I made an offer on a Short Sale. There were no extra clauses on the contract other than "Short sale subject to lenders approval." I've made no earnest money deposit. The contract states I will be making a $13k initial deposit. How long is that contract in effect before I can back out and say it's taking too long?