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Three Town site Plaza 120 SE 6th Ave, Ste 200 Topeka, KS 666033511 phone: 7852963411 fax: 7852961771 www.krec.ks.gov Erik Winner, Executive Director Sam Brownback, Governor December 2016 Newsletter
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How to fill out earnest money deposit requirements

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How to fill out earnest money deposit requirements:

01
Review the contract: Carefully read the terms and conditions stated in the contract to understand the specific requirements for the earnest money deposit. This may include the amount, payment timeline, and any conditions for refund or forfeiture.
02
Verify the payment method: Check if the contract specifies the preferred payment method for the earnest money deposit. It could be a personal check, cashier's check, or wire transfer. Ensure you have the necessary funds available in the required form.
03
Fill out the necessary forms: If there are any forms or documents required for the earnest money deposit, complete them accurately and legibly. This may include a separate earnest money agreement or a section in the overall purchase agreement.
04
Submit the deposit: Once you have completed the necessary forms and gathered the required funds, submit the earnest money deposit according to the contract's instructions. This could involve delivering it to the designated party or sending it via a specified method.
05
Keep a copy of the receipt: Request a receipt or proof of deposit from the receiving party to ensure you have documentation of the earnest money payment. This can be useful for future reference or any disputes that may arise.

Who needs earnest money deposit requirements:

01
Homebuyers: In most real estate transactions, homebuyers are required to provide an earnest money deposit to demonstrate their commitment to purchasing the property. It shows the seller that the buyer is serious and willing to invest a certain amount of money in the deal.
02
Sellers: Earnest money deposit requirements protect sellers by providing a financial commitment from the buyer. If the buyer fails to fulfill their obligations as outlined in the contract, the seller may be entitled to keep the earnest money deposit as compensation for the breach.
03
Real estate agents: Real estate agents or brokers involved in the transaction are responsible for ensuring that the earnest money deposit requirements are met. They assist the buyer in understanding and fulfilling the requirements and facilitate the proper handling and documentation of the deposit.
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Earnest money deposit requirements refer to the amount of money that a buyer puts down as a deposit when making an offer on a property.
The buyer is typically required to file earnest money deposit requirements.
To fill out earnest money deposit requirements, the buyer must provide the specified amount of money to the seller or escrow agent.
The purpose of earnest money deposit requirements is to show the seller that the buyer is serious about purchasing the property.
The amount of money deposited, the property address, and the names of the buyer and seller must be reported on earnest money deposit requirements.
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