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DOCUMENTATION OF
REAL ESTATE TRANSACTIONS
Table of Contents
1Earnest Money Agreement;
Letter of Intent ...................................................................... Paul D. Schultz2Purchase
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What is earnest money agreement?
An earnest money agreement is a contract between a buyer and seller in a real estate transaction, whereby the buyer agrees to deposit a sum of money as a demonstration of their seriousness and commitment to the purchase.
Who is required to file earnest money agreement?
The buyer and seller in a real estate transaction are required to file an earnest money agreement.
How to fill out earnest money agreement?
To fill out an earnest money agreement, the buyer and seller need to include details such as the property address, purchase price, amount of earnest money deposit, terms and conditions for refund or forfeiture of the deposit, and signatures of both parties.
What is the purpose of earnest money agreement?
The purpose of an earnest money agreement is to provide assurance to the seller that the buyer is committed to the purchase and to protect the buyer's deposit in the event of default or breach of contract.
What information must be reported on earnest money agreement?
The earnest money agreement should include details such as the names and contact information of the buyer and seller, a legal description of the property, the purchase price, the amount of earnest money deposit, and any conditions or contingencies.
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