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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.
Where is the world's largest stained glass window?
A
The American Airlines terminal at the Kennedy International Airport in New York City has a stained-glass window that is 300 feet long and 23 feet high.
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Melissa Oliver and The O Team PMZ Real Estate 14570 Mono Way Suite F Sonora, CA 95370 Office: 209-694-8781 Melissa's Cell: 209-559-0682 Camie's Cell: 209-559-1331 Michelle's Cell: 209-770-4583 Email: melissao@melissao.com
Melissa Oliver and The O Team bring you several years of qualified experience in the Sierra Foothills of Tuolumne and Calaveras Counties. Melissa Oliver, Broker Associate, is a Certified Residential Specialist®, one of the highest designated certifications offered by the National Association of Realtors. She also holds a GRI (Graduate Realtor Institute) to better help her client's in all areas of their transactions. Recently she received the newest National Association of Realtors designation Short Sale and Foreclosure Resource(SFR). Don't just hire any agent. Hire the team that cares about you and wants to make your home buying or selling experience one you will remember. Melissa and her team have expertise in residential, land, ranches, vacation, second home and 1031 exchange properties.
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