What is an Earnest Money Deposit (EMD)?
What is an EMD? An EMD, or- Earnest Money Deposit, is an amount of money that buyers put forward into an escrow account when submitting an offer on a home. The purpose of the EMD is for the buyers to show the seller that they are in good faith, or “earnest,” about purchasing the house! 🏡 Want more
How Do Real Estate Agents Get Paid?
How do realtors get paid?💰 In Virginia, home sellers pay real estate commission fees from the proceeds of their house for both agents involved in a deal. Offering to pay for the buyer’s agent’s commission is an incentive for agents to show your listing to their clients. These two agents typically s
The Two Big Issues The Housing Market's Facing Right Now
The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply: “Two dynamics are keeping existing-home inventory historically low – rate-locked existing homeowners and the fear of
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