FAQ

Promise to Purchase contracts can vary slightly from agency to agency, but the standard contract my agency uses allows for up to 10 business days—i.e. two weeks—before the ten percent Earnest Money deposit is required to be confirmed in the Escrow Account. This allows you time to perform an inspection and remove the inspection contingency before your money is tied up in the Escrow Account.

The final 90% balance of the purchase price, along with the closing costs totaling approximately 5.1% of the purchase price, need to be deposited into the Escrow Account 72 hours prior to the closing.