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If the seller accepts the offer, the earnest money is held in trust or escrow. These funds may be held directly by the seller's attorney, the real estate broker (as in the State of New York) or by a settlement or title company (as in states like California, Florida, and Texas).
Although money is the most common consideration, it is not a required element to have a valid real estate contract. An earnest money deposit from the buyer(s) customarily accompanies an offer to buy real estate and the deposit is held by a third party, like a title company, attorney or sometimes the seller. The amount, a small fraction of the ...
Jeff Greene (born December 10, 1954) is an American real estate entrepreneur.He is a member of the Democratic Party and was a candidate in the 2010 Senate election primaries in Florida. [1]
Florida has a lot at stake with how real estate agents are paid. There are about as many full-time real estate agents in South Florida as there are middle school teachers and slightly more than ...
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The Treasure Coast real estate market in September saw more homes listed, fewer homes sold in St. Lucie County, an increased median sale price in Martin County and longer wait times to get a ...
In 1991, Palmer paid an administrative $30,000 fine after being accused of money-laundering campaign contributions in order to prevent the incorporation of Santa Clarita. [7] Palmer donated $500,000 to Mitt Romney 's 2012 presidential campaign, and $2 million to Rebuilding America Now political action committee (PAC) during Donald Trump 's ...
In a real estate context, an option fee is money paid by a buyer to a seller for the option to terminate a real estate contract. Option fee funds should not be confused with earnest money. The use of option fees is most common in the residential resale market in Texas. [citation needed]
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