When I first got into Real Estate I was literally walking the streets. At the time, it definitely wasn’t very safe for my young blonde 20 something year old self to be going door to door in high heels down the major roads in Nashville. But I was told it was the only way I would get business, so I did. And honestly, I wasn’t getting anywhere fast. I even started having to base the success of my day on how many cat calls I had received just to keep things light hearted and my morale high. So naturally, one day as I was walking down 8th, I ran into a criminal masquerading as a Seller. One that has forever shaped my opinions of work and worth.
How do you know if you can trust someone? Earnest Money in Real Estate is, in theory, a financial good faith offering showing that you intend to purchase a property and perform tasks to close per contract guidelines and stipulations. But does Earnest money mean you can really trust someone to perform? It’s currently very common in Middle Tennessee to make an offer on a property with some “trust” money on the line to show a Seller that you have some skin in the game. If you mess up, you could risk losing out big time. Below are some of the most common Earnest Money best practices and stories according to Owner and Managing Broker, Liz Gatlin.