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Earnest money is either paid to the seller or refunded to a potential buyer, depending on a number of factors. The termination option gives a potential buyer time to fully evaluate the condition of the property and perhaps renegotiate the initial offer based on inspections , needed repairs, or other considerations.
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 ...
An earnest payment or earnest money is a specific form of security deposit made in some major transactions such as real estate dealings or required by some official procurement processes to demonstrate that the applicant is serious and willing to demonstrate an earnest of good faith about wanting to complete the transaction. [1]
Earnest money is a "good faith" deposit the homebuyer provides with an offer, to show the seller an intent to follow through on a home purchase. The funds are typically held in an escrow account ...
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This template should be used on the description page of non-free images that do not fall into one of the blanket acceptable non-free content categories. It does not replace the non-free use rationale template, which is required on the image description page to explain how the image is used in a way consistent with Wikipedia's non-free content ...
Christoph Sator/picture alliance via Getty Images A Catholic nun was arrested by Italian police on Thursday for bringing messages for the mafia to prisoners, police said in a news statement.
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