All About Earnest Money For Homesellers

Talking Realty

All About Earnest Money For Homesellers | Ep 24

October 22, 2024

Home sellers, listen up! If you’re selling a property and don’t fully understand earnest money, it could cost you thousands of dollars or even the entire deal. In this episode of the Talking Realty Podcast, we’re breaking down everything you need to know about earnest money to help you avoid costly mistakes. Host Glen Whitten, a 20-year broker and founder of The Ohio Property Group, walks you through real-life stories of deals gone wrong and what you can learn from them.

We’ll cover:

What exactly is earnest money and why it’s so important.
The myths and misconceptions around earnest money.
Real-life examples of deals that survived or collapsed over earnest money decisions.
Practical tips for negotiating earnest money as a home seller.
How earnest money can protect you from buyers who get cold feet.

Plus, Glen shares strategies from top negotiators like Chris Voss on how to use earnest money to your advantage. Don’t miss this deep dive into one of the most misunderstood parts of the home-selling process!

If you’re getting ready to sell your home, this episode could save you thousands. Listen now!

Key Sections and Topics:

00:00 Introduction to Earnest Money
02:16 Real-Life Earnest Money Stories
07:40 Basics of Earnest Money Deposits
12:44 Earnest Money Myths Debunked
15:34 Importance of Earnest Money in Deals
24:48 Buyer’s Commitment: The First Test
24:57 Spreading the Word: Support Our Podcast
25:31 Buyer’s Perspective on Earnest Money
27:03 Seller’s Perspective on Earnest Money
29:59 Negotiation Tactics and Earnest Money
34:54 Dealing with Earnest Money When a Deal Dies
39:49 Case Studies: Earnest Money in Action
48:36 Final Thoughts and Podcast Information

Resources Mentioned:

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Ohio

Helping home sellers save time, money, and headaches when selling any property.

Talking Realty

All About Earnest Money For Homesellers | Ep 24

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