What is the Good Faith/Escrow Check?

The good faith check is money that is put forward to show that the buyer is serious about purchasing the property.

Once a contract is accepted, the good faith money is deposited into the listing or selling broker's escrow account, depending on what is agreed upon in the contract.  There is no interest accumulated on the money.

A good faith check can be a personal check from the buyer's checking account.

It is important to keep in mind that the money is actually deposited, meaning that it will be money coming directly from the checking account.  The money will be either returned at closing or applied to the costs associated with the closing.

If the contract falls through on inspection, the buyer receives the good faith money back after the release document is signed.  However, the good faith money would be forfeited to the seller if a buyer backs out past the inspection period (there can also be other legal ramifications).

The amount can vary, typically depending on the price of the property.  Some situations (e.g. new construction) require a good faith deposit that is 1% of the purchase price.  That means that a $250,000 property would need a good faith check of $2,500.  The 1% is not a hard and fast rule, but it is important to note that a seller can counter an offer, requesting a higher good faith amount if they so choose.

If you have any other real estate questions or needs, please let me know.

Matt Gatewood

Realtor®

Keller Williams Louisville East

502-594-6582

www.gatewoodproperties.com

Favorite BBQ Places in Louisville

Right off the bat, I'm going to put out the disclaimer that there is a lot of good BBQ in Louisville, and I know I'm missing some hot spots.  These are just some that I know and enjoy (in no particular order):


Feast BBQ
Feast is one of those places where I think, "This is what happens when kids-at-heart make a restaurant.  There are tater tots and bourbon slushies on the menu."  Check out Feast for some good eats (go for the mac 'n cheese or tots, both wins) in a hipster environment.


Hammerheads
While not a "traditional" BBQ joint, the owners know how to smoke up some good meats, whether the ribs or sandwiches.  Remember the truffle fries.  Or Grippo fries.  Or both.



Mark's Feed Store
Always a winner for me, no matter which location in town.  The pork is my favorite, but their brisket and BBQ burger are also delicious.  Don't forget some some honey wings, fried pickles, or onion straws appetizer.  In addition, they do some great catering.







Fire Fresh
Whenever I am downtown, I try to swing by Fire Fresh for lunch.  Great sauce options, good sides, and red cream soda on tap.

Momma's Mustard, Pickles and BBQ
Momma's is one of those local places that feels like it came out of nowhere--and I mean that in a good way.  Gotta try the wings--at least one, or a dozen.

Smoketown USA
Good BBQ in a cool atmosphere.  Nuff said.  Oh, make sure and talk to Eric, the owner.

If you have any real estate questions (or additional BBQ questions), please let me know.

Matt Gatewood

Realtor®

Keller Williams Louisville East

502-594-6582

www.gatewoodproperties.com

Why Not Just Sell It Myself?

A question may arise from the listing side:  is using a real estate agent worth it?

Statistically speaking, agents get closer to asking price due to the understanding of the market and other factors.  Even though I enjoy the numbers, I don't want to overwhelm with statistics that you may or not believe.  I want to focus on the other parts of the transaction.

Here are some things that I find to be some of the biggest advantages in hiring an agent:

Agents live in the ever-changing real estate world every day.
I see what is going on with real estate trends on the national level down to the neighborhood level.  I am not looking at one transaction but see the big picture of what is going on.

Representation
The chance that someone will buy your property without an agent is extremely low.  That means that you are going to be going up against an agent that is looking out for his or hers client's best interest only.

Not dealing with the hassle of coordinating showings or the public
You would not have to be present for showings to present the property, and I can screen out random people from coming in off the street.

Safety  
I use a Supra Lockbox system, which only licensed agents can open.  The Supra box also keeps a log of who has entered the property and when.

Help with staging tips
I help talk through the best ways to set up your property for showings.

Good Photography
Good photography is good marketing.  I use high quality equipment and look for the best angles to show the property.


Before I became an agent, I thought that I would always sell my house myself.  After becoming an agent (knowing what I know/have seen now), I would not.  If you would like to know more details as to why not, give me a call.

Matt Gatewood

Realtor®

Keller Williams Louisville East

502-594-6582

www.gatewoodproperties.com

Favorite Ice Cream Places

One of the many things I appreciate about this city is its plethora of ice cream places.

There are many flavors and places to obtain delicious frozen ice, milk, and sugar.  These are my favorite spots in town (in no particular order).

Comfy Cow

Comfy Cow, while not an old establishment, has set itself up quickly, gaining national recognition.  The creative flavors (and names) are always fun, like the Simply Southern--chunks of pecan pie and Old Forester bourbon mixed together.  That said, I'm always happy with a regular chocolate in a cake cone due to the high quality.


Graeter's

While Graeter's is not officially local, the great people of the city of Louisville have adopted it in, not just because Cincinnati is close by but because it is good.  I mean, a black raspberry chip or some straight up strawberry are both delicious.  In addition, I cannot forget a seasonal flavor like peach.
Not only are the flavor choices a touch decision, but there are also many great locations in town--including St. Matthews and Douglas Loop, where you can walk the ice cream off in a near-by park...or not.


Homemade Ice Cream and Pie Kitchen
Always a classic favorite.  Great flavors and great options beyond ice cream (I'm thinking about you, snickerdoodle cupcake) leave me with no disappointments here.  There are lots of great locations to choose from as well--from stopping by after a nice drive at the end of River Road in Prospect to enjoying a treat after a Putt-Putt game in Fern Creek with all points in between, I wouldn't think less of you for stopping at all the locations.





Dairy Kastle
Like a beacon in the night, the Dairy Kastle knows how to bring people in as they serve up tasty treats at low prices.  One of the most significant items for me, beyond the orange and vanilla swirl, is the fact that they have real Slush Puppies.  Yes, not an imitation version.  And a heads-up, it is cash only.

Matt Gatewood

Realtor®

Keller Williams Louisville East

502-594-6582

www.gatewoodproperties.com

Favorite Ice Cream Places

One of the many things I appreciate about this city is its plethora of ice cream places.

There are many flavors and places to obtain delicious frozen ice, milk, and sugar.  These are my favorite spots in town (in no particular order).

Comfy Cow

Comfy Cow, while not an old establishment, has set itself up quickly, gaining national recognition.  The creative flavors (and names) are always fun, like the Simply Southern--chunks of pecan pie and Old Forester bourbon mixed together.  That said, I'm always happy with a regular chocolate in a cake cone due to the high quality.


Graeter's

While Graeter's is not officially local, the great people of the city of Louisville have adopted it in, not just because Cincinnati is close by but because it is good.  I mean, a black raspberry chip or some straight up strawberry are both delicious.  In addition, I cannot forget a seasonal flavor like peach.
Not only are the flavor choices a touch decision, but there are also many great locations in town--including St. Matthews and Douglas Loop, where you can walk the ice cream off in a near-by park...or not.


Homemade Ice Cream and Pie Kitchen
Always a classic favorite.  Great flavors and great options beyond ice cream (I'm thinking about you, snickerdoodle cupcake) leave me with no disappointments here.  There are lots of great locations to choose from as well--from stopping by after a nice drive at the end of River Road in Prospect to enjoying a treat after a Putt-Putt game in Fern Creek with all points in between, I wouldn't think less of you for stopping at all the locations.





Dairy Kastle
Like a beacon in the night, the Dairy Kastle knows how to bring people in as they serve up tasty treats at low prices.  One of the most significant items for me, beyond the orange and vanilla swirl, is the fact that they have real Slush Puppies.  Yes, not an imitation version.  And a heads-up, it is cash only.

Matt Gatewood

Realtor®

Keller Williams Louisville East

502-594-6582

www.gatewoodproperties.com