Earnest money agreement florida

Earnest money agreement florida

Posted: sampik Date: 15.06.2017

It is a specific dollar amount that a potential buyer pays to the seller in an effort to display their serious interest in a property.

Without an agreement, the seller would be free to sell the home at anytime. An earnest money deposit, however, secures the availability of the home as the potential buyer obtains an inspection, appraisal and financing for the purchase.

Understanding the Earnest Money Deposit | icoqerum.web.fc2.com®

In most cases, the earnest money deposit is negotiable and the seller will be happy in knowing that the potential buyer is serious enough to offer their money in good faith. If the buyer defaults or is unable to obtain financing, the seller often has the discretion to retain the earnest money deposit as damages or as otherwise described in the purchase agreement. In most cases, the deposit should be made payable and presented to a licensed real estate broker, an attorney or escrow company.

Before handing over a good faith deposit, make sure that you have faith in the person accepting your money.

earnest money agreement florida

Potential buyers should not give an earnest money deposit directly to the seller, nor should they give it to anyone who claims to be with a brokerage firm unless their credentials are verified. Directions to Signing Office Locations: Your email address will not be published.

What's Earnest Money - Florida Property Center

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How Does Earnest Money Work in a Real Estate Contract
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