Pagosa Springs and Durango real estate and homes for sale in Colorado - Mike Heraty and the Source Team, REALTORS® Mike Heraty and the Source Team REALTORS(r) for Pagosa Springs and Durango, Colorado real estate - NUMBER1EXPERTS™ Mike Heraty and the Source Team NUMBER1EXPERTS(tm) for Pagosa Springs and Durango, Colorado real estate
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Mike Heraty and the Source Team, REALTORŪ, real estate agents and broker for Pagosa Springs and Durango Colorado home listings, property and land for sale - NUMBER1EXPERT(tm)
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Why Buyers Choose Us: Why homebuyers in the Pagosa Springs and Durango area choose Mike Heraty and the Source Team as their Realtors
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Real Estate Tips
Making An Offer >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 any other expenses associated with the sale. 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 real estate agent.

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 your real estate agent for advice.

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Real Estate Trivia
Q 
What time of year is considered the busiest for homebuyers and sellers?

A 
Real estate is a year-round business, but spring is still considered the best time of year to showcase a home.
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Mike Heraty and the Source Team, REALTORŪ, real estate agents and broker for Pagosa Springs and Durango Colorado home listings, property and land for sale - NUMBER1EXPERT(tm)

Mike Heraty and the Source Team
The Pagosa Source

257 Pagosa Street (P.O. Box 4580)
Pagosa Springs
CO 81147
Local: 970-264-7000
Toll-Free: 888-672-4672
Fax: 970-264-7070
heraty@pagosasource.com

One Team... One Goal... Providing the Best Real Estate Service in Pagosa Springs!

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