StartPoint Realty | Leominster Real Estate, Sterling Real Estate, Worcester Real Estate

This Multi-Family in Milford, MA recently sold for $430,000. This style home was sold by Office Sterling - StartPoint Realty.

4 Prentice Ave, Milford, MA 01757


Sale Price

Approx. GLA
Great opportunity to own a 3 family home with close proximity to Milford down town , shopping etc . good for an investor or live in one unit and rent the other units to help you pay the mortgage . Gas heat in unit 1&2 and electric in unit 3 .town water and sewer. Updates within the past 7 years include 2 newer gas furnace and water tanks , new stairs for the third floor, delead certificate in hand for the 3 units send your offer and make this property yours before it's too late .

Similar Properties

Photo by Clker-Free-Vector-Images via Pixabay

When you purchase real estate, you must put down a good faith deposit. Several factors determine how much you will need to put down, but it could be as little as $100. In order to have a valid contract, the contract must have “consideration,” or something of value exchanged for the contract. The good faith money also shows a seller that you are serious about purchasing the property.

Who Holds the Good Faith Money?

You usually give the good faith money to your real estate agent. The agent puts the money into an escrow account. If you are buying a newly built home, you might give the good faith money to the builder. However, if you are working with a real estate agent to buy a newly built home, in most cases, it’s better to give the deposit to the real estate agent.

Is Good Faith Money Refundable?

In most cases, your good faith money is not refundable. This ensures that you are serious about buying the property and not just “tire kicking.” However, a real estate purchase contract has several exceptions. In addition to the exceptions that might be in the contract, you can add your own as long as the seller agrees. The most common exceptions are your ability to get financing and that the seller did not misrepresent the condition of the home. As long as you can meet an exception, your money is refundable.

How Much Is a Good Faith Deposit?

Most sellers like to see at least $1,000 down. However, a seller might require a percentage of the selling price. Whichever amount the seller wants, it must be stated in the purchase agreement. If you want to change the amount of the good faith money, the seller has to agree to it or you won’t have a contract.

What Happens to My Good Faith Deposit?

Once you close, the real estate agent forwards the money to the seller as part of your down payment. The amount is shown on your closing documents and is subtracted from the final agreed-upon selling price of the home. For example, you buy a house that is $250,000 and you put down $5,000 as good faith money. Your lender requires 20 percent down, so you give the lender $50,000 at closing. Your documents will show that you paid a total of $55,000, so your loan will be $195,000 plus closing costs.

The closing costs could be subtracted from your down payment, the good faith deposit or added back into the loan, depending on what you and your lender agree to. Regardless, the amount of your down payment is $55,000, even if some of it is used for closing costs.

If you have any questions about how your real estate agent handles your good faith deposit, be sure to ask. You should always ask about exceptions to ensure you can get your money back if the loan does not go through or if the house was misrepresented by the seller and/or their agent.

25 Englewood Ave., Brookline, MA 02445



Wonderful Brookline two-bedroom condo with 1 full bath in a prime location between Washington Square & Cleveland Circle! It features a gorgeous open layout, recently renovated kitchen with granite counters, stainless steel appliances with dishwasher,huge bedrooms, and large linen closet. Additional amenities include on-site laundry facilities and one on-site off-street parking. The professionally managed beautiful brick building is in a short distance to the MBTA Green B, C and D lines, and also in close proximity to BC, supermarkets, shops and a variety of restaurants.
Open House
No scheduled Open Houses

Similar Properties

This Single-Family in Wolfeboro, NH recently sold for $585,000. This style home was sold by Office Sterling - StartPoint Realty.

56 Pleasant Street, Wolfeboro, NH 03894


Sale Price

Full/Half Baths
A beautifully refurbished 4+ bedroom Colonial, within walking distance to the center of Wolfeboro. This southwest facing home filled with light as it sits on a level lot, with gorgeous landscaping and gardens, a large back yard featuring an in-ground pool with patio's and decks, all with westerly views. A very traditional, yet updated home, the kitchen off the back overlooks the pool and several hundred feet of beautiful lawn and gardens. There are three floors of livingspace, with a wonderfully finished basement that affords comfort, recreation, a work space and sleeping quarters. There is a formal living room and dining room and the family room includes the kitchen area, a den, sun porch and 4 very lovely bedrooms. More than move-in-ready on one of Wolfeboro's most favored streets!

This Multi-Family in Worcester, MA recently sold for $340,000. This style home was sold by Office Sterling - StartPoint Realty.

167 Wedgewood Rd, Worcester, MA 01602


Sale Price

Approx. GLA
This side by side property is an excellent investment that offers privacy, rent to help pay the mortgage, excellent neighborhood, easy access to the airport and routes such as 9, 12,56,70,122, 122A, nice flat back yard, 2 sheds, newer bathroom sink and mirror in left unit, newer hot water tanks, newer drop ceiling in the basement, newer sump pump, new deck painting.

Similar Properties