A RealNews reader asked “How do I get the earnest money returned from a Realtor in Missouri?” There are a couple of answers that would apply essentially anywhere, not just in Missouri, and then some specific information for Missouri.
First, to get the earnest money disbursed to you, whether you are the buyer or seller, [...]
A reader asked, “What is the difference between purchase price, appraised price and loan amount?” in a real estate transaction.
The purchase price is simply the price agreed between buyer and seller. It’s the amount that the seller will receive once the seller’s closing costs are paid. It’s the amount that the buyer will pay at [...]
Two different RealNews readers wrote in with similar questions: “What is a real estate backup contract?” and “What does backup mean in real estate?”
In real estate, a backup contract or backup offer is simply a transaction that doesn’t take place unless another transaction, usually called the “primary” transaction, falls through. Generally speaking it’s most [...]
