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Resolution of Earnest Money Dispute (Mutual Release) BUYER: BUYERS BROKERAGE: SELLER: SELLERS BROKERAGE: PROPERTY: CITY COUNTY UTAH, ZIP 1. MUTUAL RELEASE. Buyer and Seller acknowledge that the Real

How to fill out resolution of earnest money

How to fill out resolution of earnest money:

1. Begin by gathering all relevant information and documentation, including the details of the transaction, the amount of earnest money involved, and any specific instructions or requirements outlined by the parties involved.
2. Start by identifying the parties involved in the transaction, including the buyer, seller, real estate agent, and any other relevant individuals or entities. Clearly state their names and roles in the resolution.
3. Specify the purpose of the resolution, which is to document the agreement regarding the earnest money involved in the transaction. This can be stated as a declaration or an official resolution, depending on the requirements of the jurisdiction or organization involved.
4. Include a detailed description of the property or properties involved in the transaction, including the address, legal description, and any other pertinent details. This ensures that the resolution applies specifically to the designated property.
5. Clearly outline the amount of earnest money being deposited or held, including the currency and any specific conditions or instructions for the handling of the funds. This section should also include the date of the deposit or holding, as well as any deadlines or contingencies associated with the earnest money.
6. If applicable, include any provisions or conditions that must be met in order for the earnest money to be released or returned to the party providing it. This may include satisfactory completion of inspections, financing contingencies, or other agreed-upon terms.
7. Sign and date the resolution, ensuring that all relevant parties involved in the transaction also sign and date the document. This signifies their agreement and acceptance of the terms outlined in the resolution.
8. Make copies of the resolution for all parties involved, and retain the original document in a safe and secure location.

Who needs resolution of earnest money?

1. Buyers and sellers involved in a real estate transaction where earnest money is being used as a deposit or as a means to secure the property.
2. Real estate agents or brokers who are facilitating the transaction and need to document the agreement regarding the earnest money.
3. Lenders or financial institutions that may be involved in the financing of the transaction and require a clear record of the earnest money being deposited or held.

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What is resolution of earnest money?

Resolution of earnest money is a document outlining the decision and agreement regarding the earnest money paid in a real estate transaction.

Who is required to file resolution of earnest money?

The buyer and seller are typically required to file the resolution of earnest money with the appropriate authorities.

How to fill out resolution of earnest money?

The resolution of earnest money can be filled out by providing details of the real estate transaction, including the amount of earnest money paid, the terms and conditions of its release, and signatures of both parties.

What is the purpose of resolution of earnest money?

The purpose of resolution of earnest money is to formalize the agreement between the buyer and seller regarding the earnest money paid as part of a real estate transaction.

What information must be reported on resolution of earnest money?

The resolution of earnest money must include details such as the amount of earnest money paid, the property address, names of the parties involved, and any conditions relating to the release of the earnest money.