Earnest money is a deposit made by the buyer to demonstrate good faith when making an offer. It typically ranges from 1% to 3% of the purchase price and is held in an escrow account until closing. In my experience, earnest money reassures sellers that a buyer is serious. If the buyer backs out for r

Pre-qualification is an initial estimate of what you might be able to borrow based on self-reported financial information. It’s a quick first step but not a firm commitment from a lender. Pre-approval, on the other hand, involves a full review of your credit, income, and assets — providing a verifie

A deed is a legal document that transfers ownership of real estate from one party to another. It includes the property’s description, names of the buyer and seller, and is signed and recorded in public records. There are different types of deeds — warranty deeds, which guarantee a clear title; and q