Is Earnest Money still an indication of "good faith" intent, or has it become more of a custom? There are many contingencies to allow a buyer a refund of EM, but it can become contentious if a disgruntled seller refuses to release it. How do you handle it?
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How does Earnest Money help the Seller? Suppose the buyer deposits $1,000 earnest money and indicates in the offer that should he default, the only consequence in forfeiture of the earnest money. If all other contingencies are satisfied, and the buyer simple changes his mind, he forfeits the EM...
How useful is Earnest Money in today's real estate transactions? Earnest money may be perceived as an indication of a buyers "good faith", or intent to compete the transaction, or even their financial ability to perform. However, most offers to purchase include contingencies-inspection, financi...