#63: Show Me The Money. Twice.

San Francisco Real Estate with Matt Fuller and Friends

Money, money, money. Today on Escrow Out Loud, our San Francisco Real Estate podcast, we talk about how and when to bring money into a real estate transaction!

[00:21] We begin today by walking you through what happens after you’ve submitted an offer on a house and it has been accepted. Where is the initial deposit going, how do you make the transfer and why is the standard amount in San Francisco 3% of the purchase price? Britton also explains why a personal check is accepted for the first deposit but not the final deposit.

Always remember to be vigilant and take steps to prevent wire fraud! We talk more about that in Episode 40: (Online) Safety First.

[03:47] After making the initial deposit and going through escrow it’s time for signing the closing documents. What does this mean and what if you have to sell stocks or take other steps to turn your down payment into cash that you can transfer?

Thank you for listening. If you enjoyed this episode leave us a review on your favorite platform, tell your friends and don’t forget to join us again next week!

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