 |

Request My Free Relocation Package! Moving your family to another town or state is a major event in your life! I have helped many families and individuals relocate! Find Out More > View All Offers >
|
Compare three mortgages at one time.
Download TripleCalc now. It's free.
|
Barbara Nelson is one of The Top
Selling Real Estate Experts Find Out More > |
|
 |
|
|
 |
Please Sign Up For The Latest Listings and the Latest Real Estate News
Making An Offer >Keeping Your Earnest Money Safe
When you make an offer on a house, it is accompanied by an earnest money check. Earnest money is intended to demonstrate that you are "in earnest" about purchasing the property. The earnest money check is made out to the listing company. What happens to this check?
The party holding the check acts as an escrow agent until you go into closing. At that time you will receive credit for the amount of your check against the down payment and closing costs. Real estate brokers are required by law to keep escrow funds in a special account. These funds cannot be used to pay any other expenses associated with the sale. If you don't complete the transaction, the purchase contract determines the disposition of your earnest money funds. Be sure to review this part of your contract with the real estate agent.
If you are in default on your agreement, the funds may go to the sellers, so be sure that you understand the deadlines in order to avoid breach of contract and forfeiture of your deposit. If you have any questions, be sure to ask your real estate agent for advice.
|
| Q |
On what famous American street can you find the most expensive retail space for rent anywhere in the world?
|
| A |
Fifth Avenue, New York City, U.S.A. offers retail space for rent at the rate of $580 per square foot. |
See More Real Estate Trivia > |
|
|
 |

WELLS FARGO HOME MORTGAGE Call Hari or his assistant Lillian, for a good faith estimate on your closing costs and current interest rate information! Find Out More >
|
|
 |
|
|
|