Resources
Keeping Your Earnest Money Safe
When you make an offer on a house, it is accompanied by an earnest money check. Earnest money is intended to demonstrate that you are "in earnest" about purchasing the property. The earnest money check is made out to the listing company. What happens to this check?

The party holding the check acts as an escrow agent until you go into closing. At that time you will receive credit for the amount of your check against the down payment and closing costs. Real estate brokers are required by law to keep escrow funds in a special account. These funds cannot be used to pay office expenses, for example. If you don't complete the transaction, the purchase contract determines the disposition of your earnest money funds. Be sure to review this part of your contract with the Realtor.

If you are in default on your agreement, the funds may go to the sellers, so be sure that you understand the deadlines in order to avoid breach of contract and forfeiture of your deposit. If you have any questions, be sure to ask!

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more advice on ... buying real estate in Columbus, Ohio (16)
Do You Need Mortgage Protection?
If you have a mortgage on your home in the West and North Columbus area, you have probably gotten several offers from insurance companies.
Do You Really Need Title Insurance?
Title insurance is one of the closing cost items on the closing statement when a home is purchased.
Earning Your Loyalty
When you begin to search for a new home, you will probably encounter several Realtors at open houses, through friends or from signs or advertisements.
Keeping an Eye on Zoning Decisions
Zoning classifications are the most important tool that a local government has to control the way land is used in a community.
Keeping Your Earnest Money Safe
When you make an offer on a house, it is accompanied by an earnest money check.
Leaving Yourself a Financial Cushion
When you calculate how much you will need to purchase a home you will add up the down payment and closing costs.
Making Your Dream Home Come True
Your first child is on the way, and you are outgrowing your small apartment.
More Down Payment Help
Perhaps the most common deterrent to first-time home buyers is the lack of a down payment.
Should You Read Every Word?
Buying a house involves a lot of paperwork.
The Elements of Location
When you are in the market for a home, how should you evaluate the properties that appeal to you?
The Language of Financing
When you meet with a lender to apply for financing, you may feel as if you are in a foreign country as the loan officer talks points, Regulation Z margins, PMI, and ARMs.
The Rewards of Home Ownership
People buy a home for a lot of different reasons. They may want to put down roots in a community and create a sense of stability in their lives.
Three "Caballeros"
When you buy a house or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value.
Understanding the Bottom Line
An important part of buying a house is sitting down with your Realtor or a mortgage lender to get a clear idea of how much you can afford.
What is a Balloon Mortgage?
In loan terminology a "balloon" is the unpaid loan balance that must be paid in full on a specified due date.
When You Are Buying Property to Build
You noticed a lot for sale in a suburban area in the West and North Columbus area that looks like a perfect place to build your dream home.

Broker One Realty, Inc.
 3400 N. High Street, Suite 200 Columbus, Ohio 43202
Phone: (614) 246-7153 | Fax: (614) 246-7157

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