Is earnest money check cashed
Motivated by my client's satisfaction, I perform my duties with enthusiasm focus confidence and creativity. Exemplary service, communication, technology and care to give you the best experience possible. In my previous post I started writing about the important terms of the real estate offer and contract.
As I wrote earlier my plan is to address the key terms every buyer or seller should be aware of during contract negotiations and the real estate transaction. It is so tempting and frankly very natural for any buyer or seller and in some cases even an unseasoned real estate agent to get tunnel vision and only focus on the price. So this will be my second installment of this series to address all the important terms of the offer and contract. If you would like a referral for a local real estate professional you may contact me at or visit www.
So to begin this second installment we will be staying on page one of the Texas real estate contract TAR One to Four Family Residential Contract Resale. At the bottom of the page you will find Paragraph 5 Earnest Money.
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It is also commonly where the earnest money is held in escrow until the closing. So you do need to transfer funds or do whatever you need to do to cover the earnest money check.
And both buyers and sellers want to know what happens to the earnest money if the buyers do not close the transaction. Will the seller keep the earnest money if the contract does not close?
The answer here is maybe. I will address that in the next installment on this series as it is a topic that deserves to be addressed on its own. And those funds will be held until closing. Home Real Estate Blog Details. Share Selected Compare Map Selected.
Posted by Connie Vallone.
What happens to the Earnest Money? Home Buying , Home Selling , General.
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