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The earnest money should be made payable to a reputable third party such as an established real estate brokerage, legal firm, escrow company, or title company. The given template lays out an escrow agreement including a well-written real estate earnest money deposit receipt. An escrow agreement is a legal document that outlines a depositor and a certain seller, landlord, or lessor's engagement with a third party, called an escrow agent.
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Should the Seller employ legal counsel to enforce or interpret any provision of this Note, whether or not a suit is instituted, Buyer agrees to pay costs and reasonable attorney fees, in addition to any other remedy.
What it is: Checking the home's purchase price on your contract is par for the course, but you also have to cough up some money immediately, in the form of an earnest money deposit.
This receipt is one of the most important documents or a useful instrument that is submitted by the bidder along with the other documents. Purchase and Sale Agreement - Use to create an agreement between a buyer and seller to transfer the ownership of the real estate. An Earnest Money Agreement is a great way for a potential buyer or renter of real estate to show that he or she is serious about purchasing or renting.
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