East Dale Realty

Here are some of the most frequently ask questions.  If you want to submit a question, please do so through our contact form.  Thank you!

Question:  What is"earnest money" and what happens to it?

ANSWER:  Earnest money is a "good faith" deposit that is intended to show that your are a serious buyer.  It should not be confused with a deposit for the purchase because it generally represents a security to the contract.  Depending upon how much earnest money you post and how your contract is written determines what happens to it throughout the purchase.  Make sure you pay the earnest money only to the realtor and never directly to the seller.

Question: How do I get Pre-qualified?

ANSWER: Call a bank or mortgage company and complete a pre-qualification interview. This saves time and assist in negotiations as well as looking in the right price range.

Question: Why should I sign a buyers agency agreement?

ANSWER: By signing a buyers agency agreement, you receive the knowledge and expertise of Alabama real estate law by a licensed professional.  Realtors receive their commission from the seller so the buyer benefits from the expertise for FREE.

Question:  Do I need an inspection?

ANSWER: YES and by a professional licensed inspector.

Question: Will I loose my earnest money if the deal falls through?

ANSWER: No, only if YOU back out.