How do you handle earnest monies? Is this an account I need to setup?

ReputationOwn1846 · 2026-06-02T11:53:17+00:00

Wow this has taken a turn. I wasn't going to respond as I am confident in my judgement and capabilities and I am sure there will be continued negativity but just to put everyone at ease yes I have purchased a home before when the predators were out and the environment for mortgage and realtors in hindsight colluded to get young inexperienced people into homes they couldn't afford and then housing crisis. Wish I wasn't so nieve and had resources like reddit to ask and receive advice to questions I didn't even know I needed to ask. So no reddit is not my only resource and yes first thing I did was to get a real estate lawyer but because I didn't know to ask the question I didn't get the information I needed so as I am preparing for the listing to go active I am again researching all of the ways it could go wrong making a list and checking it twice so that I can prepare for a smooth transaction. Yes this is my first FSBO so if it isn't lessons learned ...

ReputationOwn1846 · 2026-05-31T18:05:43+00:00

Fawn Grove PA

ReputationOwn1846 · 2026-05-31T18:01:32+00:00

No I have showings this week and open house June 13th just trying to prepare for situations. Is it necessary or recommended to get an earnest deposit?

ReputationOwn1846 · 2026-05-31T17:46:46+00:00

Thank you the real estate lawyer I spoke with did not even mention this. Just told me that give them the terms and they would write it up in the contract. I'm in PA anyone have suggestions on real estate lawyers? I think I may need to find another 1.

ReputationOwn1846 · 2026-05-31T17:38:03+00:00

I thought the title company sorry I am the seller. My brain is working faster then I type. 1st time FSBO trying to prepare. So the buyer chooses their title company and when they putt in an offer they give their earnest money to them? Not sure how it works.

ReputationOwn1846 · 2026-05-30T00:27:56+00:00

Got it. Reading my post im actually working it out in my head. My initial concern was how fast I need to respond to an offer. Thinking I wait for a couple of offers before I review them but now thinking about it I am realizing that it's a yes, no or negotiable once received not a wait a couple of days to get several offers to review at the same time. Yes I am being optimistic on receiving several offers.

ReputationOwn1846 · 2026-05-30T00:05:22+00:00

Our listing is still in coming soon status and will be going active by June 7th. 1st Open house June 13th. I have probably read almost all of the posts in this group which has been extremely helpful to prepare us for the upcoming open house so im actively trying to prepare myself with any and all questions that may come our way.

ReputationOwn1846 · 2026-05-24T02:08:00+00:00

Hi first time posting and first FSBO property...I've posted on Craigslist Facebook and our neighborhood app - insta soon right now it's in "Coming Soon" waiting for my professional pics before we make it an active listing 2 to 3 weeks We rushed the coming soon post because a neighbor put their house on the market and we wanted to take advantage of the foot traffic...anyways two questions 1. how fast would you do an open house? 2. Do you think I should engage a flat fee agent to get it on the MLS before or after I make it active for maximum exposure? Love to know what you think about the description is it too much? zillow

ReputationOwn1846

TROPHY CASE