Posts tagged “Earnest Money”
Practical guides for transaction coordinators and the agents they work with: deadlines, contingencies, documents, signatures and keeping every party in the loop.
Transaction Coordination
Real Estate Trust Account Rules: Commingling, Deposits, Reconciliation and Records
How broker trust and escrow accounts work: what counts as commingling and conversion, how fast earnest money must be deposited, monthly reconciliation, how long records are kept and how audits work, with California, Texas, …
Transaction Coordination
Earnest Money vs Down Payment: The Difference and How Each Is Credited
Earnest money is a good-faith deposit paid days after acceptance; the down payment is the part of the price you don't borrow, …
Transaction Coordination
Texas Option Fee vs Earnest Money: Who Holds Each, When It's Due and What You Get Back
The option fee and the earnest money go to the same escrow agent on the same deadline, but they do different jobs. …
Transaction Coordination
Earnest Money Dispute: Who Gets the Deposit?
What happens to the deposit when a deal falls apart and both sides claim it: the release, the demand, what escrow holders …