Maxworth Realty India Reviews - What Should You Know About Advance Payments While Buying a Home?
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Maxworth Realty India Reviews - What Should You Know About Advance Payments While Buying a Home? Maxworth Realty Reviews - Buying a home is an exciting and life-changing experience, but it can also be a stressful and overwhelming process. One of the essential aspects of buying a home is understanding the advance payments that you'll need to make. Advance payments are the payments you make before or during the buying process. These payments can include the down payment, earnest money deposit, closing costs, and prepaid expenses. In this blog post, we'll explore these different types of advance payments and what you need to know about them. Earnest Money Deposit (EMD) The earnest money deposit, or EMD, is a deposit that you pay to the seller to show that you're serious about buying the property. The amount of EMD can vary from state to state, but it typically ranges from 1% to 5% of the purchase price. When you make an offer on a home, you'll typically include an EMD