Call us at or Contact us online! The VA loan earnest money deposit is an amount collected from the buyer. If a buyer who provides an earnest money deposit walks away, the earnest money is kept by the seller.

Earnest Money Deposits and VA Loans | isycihe.web.fc2.com

If the buyer who provides an earnest money deposit completes the purchase, the earnest money is returned to the buyer as a credit at the closing table. Most every VA loan offer made includes a VA loan earnest money deposit. The VA lender will want to identify the source of the earnest money funds as the VA loan is processed. How much is an earnest money deposit for a VA loan? There are no strict rules for a VA earnest money amount; such amounts will vary based upon local custom, but a common earnest money deposit represents two percent of the sales price of the home.

The earnest money on a VA contract will be listed and given to an independent third party, typically the closing agent such as an attorney or virginia earnest money deposit officer. Most VA contracts have an addendum that states the buyer can cancel the contract should the appraised value come in lower than the sales price of the home.

In such an instance, the VA earnest money is refunded. Earnest money can also come into play after a home inspection is performed.

Selling Virginia Real Estate & Property Management

Say that an offer was made, the earnest money was paid, and the buyer ordered a home inspection. If the home inspection reported that virginia earnest money deposit foundation needed repair the buyer can www moneymakers essex the loan and receive the earnest money refund.

We are not a government agency. The VA Loan Earnest Money Deposit.

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