Is An Earnest Money Deposit Required In Michigan? Be sure to subscribe to her YouTube channel for all your real estate tips, home tours and advice.
Is an earnest money deposit required in Michigan? The truth is no. But in reality, you want to have an earnest money deposit as the buyer. And you do want to make sure the buyer presents an earnest money deposit as a seller.
And the reason is, if the realtor that represents a seller finds that your offer does not have an earnest money deposit, they’re going to wonder, “does this buyer have the money to close? Is this a qualified buyer?
And then you as a seller, you want to have that earnest money deposit to make sure that you have some leverage in case the buyer tries to back out for a non-contractual reason. That’s all I have for you. If you have any questions, leave a comment below. Please share this with anyone you think this will be helpful to. And, as always, close to Patrice.
This has been “Is An Earnest Money Deposit Required In Michigan?” by Patrice Henderson of Designed Living Real Estate. Be sure to subscribe to her YouTube channel for all your real estate tips, home tours and advice. Get your FREE listing consultation or buyer consultation to learn more about the home selling and home buying processes.
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