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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.
What is considered the oldest surviving non-native building in the U.S.?
The governor's palace in Sante Fe, New Mexico, built in 1609, was constructed with materials and methods adapted from the native Indians.
Harpole Real Estate GroupKeller Williams Realty2644 Suzanne Way Suite 100Eugene, OR 97408541-343-7653Fax: 541-302-7669harpolehomes@NUMBER1EXPERT.comThe Harpole Real Estate Group specializes in helping distressed homeowners that owe more then what their properties are currently worth. They are the leading experts in Short Sales in the state of Oregon.
Harpole Real Estate GroupKeller Williams Realty2644 Suzanne Way Suite 100Eugene, OR 97408541-343-7653Fax: 541-302-7669harpolehomes@NUMBER1EXPERT.com
The Harpole Real Estate Group specializes in helping distressed homeowners that owe more then what their properties are currently worth. They are the leading experts in Short Sales in the state of Oregon.
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