Currently in the underwriting phase. Thank you for the videos they have been very helpful during this process. Also your voice is so soothing you should make guided meditation videos.
@WinTheHouseYouLove
4 жыл бұрын
Congrats! You're very welcome! Haha I've been thinking about it!
@WorryDontAbout
8 ай бұрын
Well explained, I did this without really understanding but it worked out
@nikki.khristmas.british6155
4 жыл бұрын
Thank you for all your time/lists...hard work and valuable information...
@WinTheHouseYouLove
4 жыл бұрын
Glad you like them!
@jamiegreenwood393
4 жыл бұрын
I personally want to thank you for creating such content, your videos are EXTREMELY informative! I’ve learned more from you than my realtor and loan officer. If possible can you do a video breaking down Loan Estimate and or Fee Worksheet for us first time buyers? If I missed that video can you drop the link? Thanks a ton and keep up the great work!
@WinTheHouseYouLove
4 жыл бұрын
You're so welcome, Jamie! I'm glad these videos could be some help!! I have this video on Loan Estimates (kzitem.info/news/bejne/sqhouXuDg59mbIo) but planning on an updated one here soon!
@NickMB
4 жыл бұрын
1% of the purchase price is typical for earnest money deposit in Washington DC. Another interesting thing about the DC market is that if you’re buying a condo, you can waive all contingencies to make your offer more competitive but you still have 15 days from contract ratification to change your mind during what’s called a condo doc review period, and you’d get your earnest money back. You just have to make sure your appraisal and inspection is within that 15 day window, and it doesn’t apply if you’re not buying a condo or a unit in an HOA
@WinTheHouseYouLove
4 жыл бұрын
Great additions!! HOA contingency is a good one I didn't mention in this video :)
@jellyrcw12
3 жыл бұрын
LOVE you channel! You are truly a blessing and you are helping me get one step closer to owning a home
@WinTheHouseYouLove
3 жыл бұрын
Best of luck!
@Motivation66667
4 жыл бұрын
*Great topic ! Very important to educate buyers what is Escrow deposit and why it is important 👍🏻👍🏻👍🏻*
@WinTheHouseYouLove
4 жыл бұрын
Absolutely!
@nenigma1
4 жыл бұрын
to Move to Southern NJ Earnest Money Was a Must (we put 6k/ Minimal). We were asked to put more due to Competition. We Planned a Private Meeting Explaining our "Love" for the Community and home. We were chosen over others bidding Higher for the Cost of the Home. Unbelievable and Thankful.
@WinTheHouseYouLove
4 жыл бұрын
Ah, yeah the competition is crazy!!
@KellyKels23
4 жыл бұрын
Heeeyyy I didn't know you were in Dayton. I'm in the KY/IN area & wish you were licensed in Indiana, my pre-approval process might've moved quicker.
@WinTheHouseYouLove
4 жыл бұрын
I am! :) Ah, I wish I could have helped!
@nathanday01
4 жыл бұрын
Great videos. I'm a seasoned Realtor and sometimes I still need a refresher on things like...USDA loans. How can I explain earnest money best to a first time home buyer, so thanks! Curious about your mic. I'm pretty sure it's vintage since you have at least three guitars and likely do some recording. What is it?
@WinTheHouseYouLove
4 жыл бұрын
Thanks! USDA loans are tricky! I use a Neumann TLM 102, not vintage, but a lovely mic!
@legony1
4 жыл бұрын
I live in Washington DC. I was required to put $5K as my earnest deposit. I put 22% down, which came out to $55K (that included my $5K deposit), as he says in the vid.
@WinTheHouseYouLove
4 жыл бұрын
Hefty earnest deposit! Congrats on your home :)
@trollavelli4708
2 жыл бұрын
Love the hair. Thanks for the vid!
@krissifaith6709
3 жыл бұрын
Our realtor keeps pressing us for earnest money... But the house is as-is so if it doesn't appraise well and our lender drops it... We are screwed... this vid was helpful! thanks
@moniquemaes-ws1ms
Жыл бұрын
So if a house is "as is" none of the contingencies take place? Like the Inspection contingency, appraisal or loan contingency?
@TatiJones-t3o
7 ай бұрын
Is a house is as is, should you even do the inspections?
@TANISHA2U
4 жыл бұрын
This information was right on time. I’m in escrow right now and I provided a good faith deposit on Sunday. Is their special contingencies for New Construction homes?
@WinTheHouseYouLove
4 жыл бұрын
Glad to hear!! Usually not that are any different from a regular purchase; however, read through your contract to make sure.
@justincaldero5174
4 жыл бұрын
Currently in the middle of getting my earnest money back. We were a week from closing on a 3 unit building that was going for $65,000. The loan/deal fell through because of high cost :( sucks because I thought this would be a great deal to start my portfolio
@WinTheHouseYouLove
4 жыл бұрын
Ah dang!! Sorry to hear! I'm surprised your lender didn't help you with that. Any time we run into a high-cost fail, we always drop the lender paid compensation to make the deal go through.
@louisjara8631
3 жыл бұрын
Kyle I have been following you, Javier, and Jeb for quite a while now. Can you please answer my question. Currently in escrow in California and I am within my inspection contingency of 17days. I just had a termite report submitted and found the presence of subterranean termites(1A). Can I terminate my purchase agreement and get my earnest deposit back? Technician believes that the termite infestation might be in the beginning stages but is not sure of the extent of the structural damage.
@WinTheHouseYouLove
3 жыл бұрын
Yes, you can cancel a purchase agreement and get your earnest money deposit back under certain circumstances. . You may uncover significant defects (in your case, termintes infestation) that cause you to cancel, and property condition might be covered in your contract as a contingency period. Best of luck!
@h3mi25
2 жыл бұрын
How in depth can you go into the financial contingency? Like if the buyers were unable to get a loan due to their gifted not coming through or because their finances changed at work? It can’t be as simple as “we didn’t get the money. Now give me my money”.
@maryterese5250
3 жыл бұрын
Thanks for the videos. So as soon as the offer is accepted by the seller is when the buyer would send the earnest money? What if the contract has only been signed by one party? Do you wait until the sellers sign their part of the contract to send the EMD? Thanks in advance?
@WinTheHouseYouLove
3 жыл бұрын
It will depend on the contract, ask your agent :)
@flogol4645
4 жыл бұрын
Thanks Kyle for the video. I'm from California and it seems like earnest money is need out here...too many folks bidding on one home! But what happens when several parties bidding and all puts earnest money? Is it required 🤔 or advised. In my best interest if I really want this house?
@WinTheHouseYouLove
4 жыл бұрын
You're welcome! If several are bidding with earnest money, then other aspects of the offer like price are going to be more of a factor. It's definitely not required. In my local market, most good real estate agents try to get their buyers a home without needing to put up earnest money. But, get your Realtor's opinion since they're more familiar with your specific market.
@flogol4645
4 жыл бұрын
Thanks Kyle Seagraves ☺ I will be sure to let the real-estate agent know or ask them.
@tjenglish2814
2 жыл бұрын
We got screwed by buyers who said they had no issues during inspections, not getting the earnest money is the least of our worries. Not only do we lose all the earnest money, we lose potentially thousands by falling out of escrow and losing all of the home’s initial momentum.
@yanger08
4 жыл бұрын
This was so informative!! Thank you so much!!
@WinTheHouseYouLove
4 жыл бұрын
You are so welcome!
@coreymerrell6673
4 жыл бұрын
Thank you Kyle, your presentations always make things very clear! I appreciate the calm moment breaks too - definitely needed when working through this process.
@WinTheHouseYouLove
4 жыл бұрын
You're welcome, and thank you for watching!! I'm glad you like them :)
@freddyrivas_23
5 ай бұрын
great content boss.
@WinTheHouseYouLove
5 ай бұрын
Thanks!
@TheCherrydi
3 жыл бұрын
Omg I'm going through a bad one. $10,000 on the line fighting for it. The seller wants all my money cause we didn't get approved at the end. I didn't walk away the bank didn't approve.
@WinTheHouseYouLove
3 жыл бұрын
Oh no I'm sorry!
@terrapreta1
3 жыл бұрын
@@WinTheHouseYouLove How common is that??! Should one insist on a fully underwritten pre-approval?
@pathmanathanmugunthan251
2 жыл бұрын
I have question . I got conditional commitment letter from lender but I don't think I will get loan becz Requesting documents I can't get . So if I don't get final approval loan , will I get earnest money back from seller ? Even we are in approved contract extension ?
@veronicagrimes.
Жыл бұрын
@pathmanathanmugunthan251. I can help walk you through the process, help with comping or even help find an end buyer. Also if you need help with funding your EMD transactions, I can help with that as well.
@wijsi2kaiwoqjs9s
Жыл бұрын
What if the 21day past of earnest money dead line and the bank doesn't approve you and doesn't let me know until after the deadline time and can't get it back? The owner doesn't want to give me back my earnest money and it wasn't my fault the bank didn't approve me for that amount for the house what can I do?????
@WinTheHouseYouLove
Жыл бұрын
You'll want to talk to your agent about how to get out of a contract
@nikitadaley7108
2 жыл бұрын
Hi. We put earnest money into escrow with the title company. Our seller agreed to pay $10,000 in closing. Does this mean whatever is left over after the $10,000 will come out of the earnest money?
@veronicagrimes.
Жыл бұрын
Hey, I can answer any questions you may have about earnest money or the wholesaling process. Reach out anytime.
@bobbyc6982
4 жыл бұрын
Hey I have and question about buying and house on va loan in North Carolina I’m from wa st and house here are out my price range so I had to move I was doing a lot of looking on line but I have family in North Carolina in Wayne county my family went and look at the house I had on contract and it is not ready and they say it will be ready but it’s not half way done I was to close oct 15 should I let the builder change the close date
@WinTheHouseYouLove
4 жыл бұрын
Hmm, it sounds like you may not have an option and will need to let the builder change the close date, otherwise they won't be finished on the 15th. COVID has caused a ton of building delays and supply shortages. So, if possible, try to extend some grace to the builders :)
@minnesotahomepro
3 жыл бұрын
I spy an electric guitar! Do you play that, or is it a decoration? :) Great video! Also, what is the notes board you are using, if you don't mind sharing.
@WinTheHouseYouLove
3 жыл бұрын
Haha I do! First, I screen record my iPad and use a drawing app called Adobe Fresco. Then, I record the video while drawing any notes on the iPad. Next, I import both the screen recording and video into Final Cut Pro. I overlay the screen recording on top of the video and sync them up so you can see me draw and talk at the same time.
@minnesotahomepro
3 жыл бұрын
@@WinTheHouseYouLove that’s quite the process. Very creative! Thank you for sharing. I appreciate it.
@emarti3419
4 жыл бұрын
Not sure if you remember me, but after several months, going to closing at the end of October!!!! Long as the appraisal comes through, should be full speed ahead. Mortgage rate was even BETTER. Initially, mocked up @ 3.25%. After things started moving, 2.875%!!! What what!!
@WinTheHouseYouLove
4 жыл бұрын
Congrats!!! 🎉
@emarti3419
4 жыл бұрын
@@WinTheHouseYouLove Save the celebrations for after closing!!! :-)
@transformationofthebride2295
3 жыл бұрын
So the earnest money is paid when the seller accepts your offer?
@WinTheHouseYouLove
3 жыл бұрын
Yes! Right here: 0:41. Thanks for watching! :)
@robertcornelisse8664
3 жыл бұрын
Those contingency windows are those in any standard contract? We are under contract and paid $6000 earnest money. But everything is going so slow we might not meet the closing date, we doing a foreclosed fannie may and a fha203k. I am freaking out. When I ask my realtor I don't understand his explanation.
@WinTheHouseYouLove
3 жыл бұрын
They're standard in most contracts. Fannie normally is pretty good about extensions if you give them a heads up. Shoot me an email at kyleseagraves@hey.com with your contract and I'll see if I can help.
@robertcornelisse8664
3 жыл бұрын
@@WinTheHouseYouLove Thank you so much. I just sent you a email
@Patty.TexasRealtor
Жыл бұрын
What about on an Owner finance deal ?
@tanjeebrown9890
3 жыл бұрын
Here in Georgia builders are asking for $10000.00 and more for earnest money.😳😳😳
@WinTheHouseYouLove
3 жыл бұрын
😳 Thanks for watching!
@SportFanatic2023
Жыл бұрын
hi can we still get our earnest money back after all contingencies have been removed but loan wont approved it ?
@WinTheHouseYouLove
Жыл бұрын
I just recorded a personal video reply for you: vid.us/8xv10p
@gregorybrown7259
3 жыл бұрын
Thank you so much
@WinTheHouseYouLove
3 жыл бұрын
You're most welcome
@SD71232
Жыл бұрын
Earnest deposit in NY according to my buyers agent is 10% so for a 600k house that’s a whopping 60k
@WinTheHouseYouLove
Жыл бұрын
Hey S D! You're right - that earnest deposit in NY can be pretty significant, especially on a 600k house. Keep in mind that this amount can sometimes be negotiated with the seller, so it may not necessarily have to be exactly 10%. If you're ready to start the pre-approval process, feel free to go to www.winthehouseyoulove.com/lender and if you have any more questions or just want to chat, shoot me an email at kyle@winthehouseyoulove.com! Best of luck on your homebuying journey! 😊🏠
@javonmagee286
9 ай бұрын
Hey, if you can’t afford to put up that much pull me in on the deal, I’ll help chip in
@mjones2619
3 ай бұрын
I lost my escrow money after being pre approved for a loan, I feel like I was scammed.
@WinTheHouseYouLove
3 ай бұрын
Earnest money is about contracts, not pre-approvals. It's extremely important to read a purchase contract. No one signing a purchase contract should feel scammed because all terms are clearly laid out.
@soknanhorn215
3 жыл бұрын
Are you a broker in Fl..I'm buying soon..would love to use you lol
@WinTheHouseYouLove
3 жыл бұрын
Our team here is licensed in Florida! Feel free to shoot me an email at kyleseagraves@hey.com and I'll get you connected :)
@fulano787
10 ай бұрын
8:40 you started explaining the contingencies with examples and after going through appraisal and inspection, you left out financing which is why I’m here.
@WinTheHouseYouLove
10 ай бұрын
7:50 I talk about it
@acbabelgates9386
2 жыл бұрын
I didnt realize my Earnest money wasn't apart of my down payment. Its like any other deposit don't count on getting it back, or it being good for anything else but to hold a spot. 5k just went to nothing in my case.
@veronicagrimes.
Жыл бұрын
Hey, I can answer any questions you may have about earnest money or the wholesaling process. Reach out anytime.
@NaosAugust
4 жыл бұрын
You are amazing thank you
@WinTheHouseYouLove
4 жыл бұрын
Happy to help!
@njmeow9
3 жыл бұрын
Seller wants me to add on contract for them to get earnest money and wants check overnighted to title company and then he’ll sign 🙄
@WinTheHouseYouLove
3 жыл бұрын
Hmm that's annoying
@thelcsmith22
5 ай бұрын
whats a good email for you im in dayton,ohio as well I would love to work with you !
@WinTheHouseYouLove
5 ай бұрын
Cool! I work on a team now, so I focus on education and have Mortgage Advisors with over 20 years of experience each. You'll be in good hands with our team! kyle@winthehouseyoulove.com
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