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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.
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What does the term Curb Appeal mean?
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This term describes how homes look from the street; this first impression is very important to prospective homebuyers. |
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Linda Risden and The Five Star Team
Florida Five Star Realty, Inc.
9900 W. Sample Road, Suite #300
Coral Springs, FL. 33065
Contact Me With Confidence!
Office: 954-345-5530
Fax: 954-345-5590
Cell Phone: 954-270-3463
Email: sofloridahomes@NUMBER1EXPERT.com
Email: risden@bellsouth.net
Linda specializes in Ft. Lauderdale, Coral Springs, Coconut Creek, Parkland, and Margate. She is well known for producing consistent results, selling homes in an average of under twenty days. With over twenty three years of real estate experience, sellers and buyers are benefited with the vast knowledge and negotiation skills of a true professional. A recipient of one of the most prestigious awards, Linda was honored as being named in the top 100 Agents in Florida. As a member of an elite group of top real estate professionals throughout the Country, Linda can assist in referring customers to the best Realtor in the area. Call Linda today at: 954-345-5530 or 888-320-FIND. 
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