Simply put, earnest money is a “good faith deposit” that accompanies your offer on a property to indicate to the seller that you are sincere, or “earnest,” in your endeavor to buy their property. Upon contract ratification, and the deposit is held until settlement, at which time it is applied to your down payment or closing costs. In the event of any overage, it’s refunded to you at settlement. Typically, there is no set requirement and, that the amount of your earnest money deposit depends primarily on your marketplace and local custom.

Who can hold earnest money?

Typically the earnest money deposit should be made to a reputable third party such as a well known real estate brokerage, legal firm, escrow company or title company. As a buyer, be aware that if you allow earnest money to be held and deposited by a seller or by a builder or developer for use in construction, you risk that they will not be able to return it to you in the event the transaction does not close for whatever reason. Most buyers prefer to have real estate agents or attorneys hold the earnest money deposit as they are licensed by the state and required to deposit the money in a trust or escrow account, this reduces the risk that the monies will be improperly used. To avoid the loss of your deposit, follow these tips.

• Never give an earnest money deposit to the seller.
• Verify that the third party will deposit the funds into a separately maintained trust account.
• Obtain a receipt.

Is your earnest money deposit refundable upon cancellation?

Whether or not earnest money payments are refundable depends on the real estate contract itself. Your contract can have a stipulation that calls for all earnest money deposits to be returned if the terms of the contract are not fulfilled, for example if the buyer applies for financing but is denied. However, it is not uncommon for contracts to explicitly state that there will be no refund of earnest money under any condition, so it is of the upmost importance to read the contract thoroughly.

What happens to the earnest money before closing?

The purchase contract governs where earnest money will go. It should also specify the amount(s) to be paid, when the payments are to be made, whether the money will be held in a trust (escrow) account, who will hold it, whether it will be credited against the purchase price at closing, and what may happen to it if the transaction does not close.

Earnest money is an important part of the home buying process. If you are serious about purchasing a home, you need to indicate to the seller you are serious. They’ll be taking what is probably their single largest asset off the market if they accept your offer. A reasonable earnest money deposit helps reassure the seller you are serious about buying their home.

Are you in the process of moving? In between selling one home and moving into your new home? If you are in need of a temporary place to store your items you have several options, read more below to find one that will work best for your situation.

There are few things you’ll want to consider about your storage options:
• Think about how much storage space you will need.
• Are you storing just a few items or an entire house? How long will you need storage, long or short term?
• If your items will be stored for an extended time frame, you will need to consider special needs before packing away your items. You may need temperature and moisture controlled facilities.

Different Options
Self Storage Facilities. These consist of mini-storage units where a monthly charge is incurred. Most have a variety of units in different sizes to accommodate your storage needs; if you are not sure of how big a unit you may need, use this estimator to help determine the best size you may need.
Depending on the facility, access can be granted at specific times but some do have 24 hour access. Find a self storage facility near you.
Container Storage or PODS. This type of storage can be used for long-term, portable storage. Pods can be stored at a storage center, and once you move to your new home, delivered at your doorstep for your convenience. This can be a time and money saving solution because you only have to pack once, you don’t have to move your items to the storage facility and then again to your final destination.
Moving Companies That Offer Storage Facilities. If you are using a moving company, check and see if they offer storage facilities as well. Many offer this service for an additional fee. This may be a convenient option to have the same company who is handling the moving, pick up, store your items and then delivery them to your final destination.

Before You Store Your Items
• Look into insurance for the items you will be storing. Check your homeowners or renters insurance policies to see if they will cover items kept in storage. Don’t assume the storage facility will cover your items if they are damaged or stolen.
• Make an inventory of the items you are storing and keep it in a safe, easy-to-find place. For highly valuable items, it is recommended that you take photos as well.
• Be sure the storage facility offers all that you need. A few things to consider may be location, 24 hour access, security features, climate control, whether you need mobile storage, etc.
• Before signing a contract, be sure to tour the facility so you can view the unit to make sure it is up to your standards and will accommodate your needs.

Most homes have hard water problems without necessarily knowing about it. The best way you can tell if can tell if you have hard water is when it is difficult to get soap to form a lather, or you have to use alot of soap into the water to clean your dishes or if your dishwasher is just not getting the dishes clean. However, not all hard water is the same and depending on where you live it can vary.

What Is Hard Water?

Hard water contains calcium and magnesium and while this is quite natural, excessive amounts create what is commonly referred to as hard water. Hard water is not considered a serious health risk but people who are more prone to rashes and skin problems can have problems because it changes the skin’s pH and soap remains on the skin, clogging pores.

Hard Water Solutions

If you suspect you have hard water, call a professional to test your water and recommend soft water solutions. The most common solution is to use a water softeners or water treatment systems. While many systems use salt, there are several softeners available that have a salt free system. However if you are concerned about the presence of sodium ions in their water, use of sodium ions does not make the water noticeably salty or cause a significant increase in a person’s sodium intake. In fact, the FDA defines water that would result from softening 75 gpg hard water (where much more sodium ions would have to be exchanged that is typically the case) as a “low sodium” beverage.
Whatever type of system is used, the applications can be quite affordable and highly worthwhile for those in hard water areas. A typical household water softener costs around $1,000 to $1,500 with a monthly operating expense of around $2 to $8 if sodium is used, and $3 to $15 if potassium is used. Look for the WQA Gold Seal to find products that have been successfully tested to industry performance standards.

Advantages Of Soft Water

•You will use less soap by using soft water, both in the shower and in the kitchen.
•You’ll have less unsightly spots on dishes, and glassware and your knives and forks.
•Your heating bill will also be lowered because heating hard water in the water heater, causes hardness scale which plugs plumbing pipes and vessels and builds up on the inside of water heaters.
•Your skin and hair will look and feel better after bathing or showering. Scum from hard water clogs skin pores and coats hair.
•Clothes are softer, cleaner, brighter, and last longer
•Your food and beverages will taste better using soft water and ice cubes will sparkle more.

Hard water waste can cost hundreds of dollars each year as it impact laundry operations, water heater, efficiency, household cleaning, and the life expectancy of water-using appliances and plumbing. While hard water is not an emergency, the costs do adds up. Click here to read more about hard water and how it affects you.

You never know when disaster may strike your home. Many times the most immediate and direct result is a power outage, power lines are often the first thing to go out. Here are tips to help you prepare your home and family survive an unexpected power outage.

Buy Emergency Supplies

Don’t wait for a power outage to buy emergency supplies. If your power goes out, it’s likely you could find the store shelves raided and empty during a power outage. It is a good idea to purchase emergency home kits and store them in a general area in your home so you wont be searching for needed supplies in the dark in an emergency. While most power outages are short-lived, but some may last days. Here are some things to consider for a long-term outage. Stock up on:
• Candles and candle stick holders
• Matches and disposable lighters.
• Flashlights and extra batteries.
• Battery operated radio and extra batteries
• Canned goods and dry food mixes. Water and juices. Don’t forget the hand-operated can opener
• Special items for infants, the elderly or family members with special needs and prescription medications
• Paper plates, cups and plastic utensils.
• First-aid kit
• Fire Extinguisher

Prepare an Emergency Bag

If the power goes out suddenly in the middle of the night, you do not want to stumble around in the dark with a flashlight trying to pack a bag. You may not know how long a power outage will last, so pack for at least a couple days. Remember, to pack personal hygiene items such as soap, shampoo, a toothbrush and toothpaste, remember to include medicines and vitamins.

Refrigerated Food Safety

Refrigerated food must be kept at temperatures of 40 degrees to avoid spoiling. Do not taste food to figure out if it’s safe to eat.

• A closed refrigerator will keep food safe for about four hours.
• A closed freezer will maintain food quality for about 48 hours if full, 24 hours if half full.
• 50 pounds of dry ice will keep a freezer cold for two days.
• If your power outage lasts longer than four to eight hours, discard the following items:
• Eggs
• Mayonnaise
• Leftovers
• Milk products (except butter)
• Fresh meats, poultry and seafood
• Soft cheeses, low-fat cheese and shredded cheese
• Creamy-based dressings, gravy and spaghetti sauce
• After six hours of a power outage, discard all frozen products except breads, nuts, hard cheeses and fruit juices.

Other Storm Preparedness Tips

• If you use electrically powered life-support equipment, ask your doctor about emergency battery backup systems.
• Protect sensitive electronic equipment, such as computers, televisions and other devices, with surge suppressors.
• Make sure you know how to safely reset your circuit breaker or change fuses. Keep extra fuses on hand.
• If a well is your source for water, plan ahead to determine how you will get drinking water. Store containers of water for cooking and washing.
• Know how to open your garage door manually if it is equipped with an automatic opener.

A power outage is inconvenient, whether it lasts a second or an hour. Because you never know when a power outage will strike, you can minimize the problems and safety hazards of a power outage by following these simple suggestions to protect your family and home.