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RELEASE OF CONTRACT TO BUY OR SELL AND RELEASE OF EARNEST DEPOSIT On this date Buyers and Sellers
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How to fill out release of earnest deposit

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How to fill out release of earnest deposit:

01
Obtain the release of earnest deposit form from the appropriate party, such as the real estate agent or attorney handling the transaction.
02
Fill in your personal information, including your name, address, and contact details.
03
Specify the details of the transaction, such as the property address, purchase price, and date of the signed purchase agreement.
04
Indicate the amount of the earnest deposit being released and provide the details of where the deposit should be returned. This could include the name and address of the escrow agent or the party holding the deposit.
05
Sign and date the release form to confirm your agreement to release the earnest deposit.
06
Submit the completed release of earnest deposit form to the appropriate party, such as the real estate agent or attorney, and keep a copy for your records.

Who needs release of earnest deposit?

01
Buyers: Buyers typically need a release of earnest deposit form when they have decided to terminate a real estate purchase contract and want to be refunded the earnest deposit they had submitted.
02
Sellers: In some cases, sellers may also require a release of earnest deposit form to acknowledge that they no longer have a claim to the earnest deposit and that it should be returned to the buyer.
03
Escrow agents or attorneys: These professionals often handle the release of earnest deposit forms, as they are responsible for overseeing the transaction and ensuring that all parties agree on the return of the earnest deposit.
04
Real estate agents: Real estate agents may be involved in the release of earnest deposit process, as they are the intermediaries between buyers, sellers, and other parties involved in the transaction. They may assist in obtaining the necessary forms and coordinating the release of the earnest deposit.
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Release of earnest deposit is a document that allows a party to release the earnest money deposit held in escrow during a real estate transaction.
The party who is holding the earnest money deposit in escrow is required to file the release of earnest deposit.
To fill out release of earnest deposit, the party must provide details about the real estate transaction, the amount of earnest money being released, and the reason for releasing the funds.
The purpose of release of earnest deposit is to ensure that the earnest money deposit is properly distributed according to the terms of the real estate transaction.
The release of earnest deposit must include details such as the names of the parties involved, the amount of earnest money being released, and the reason for releasing the funds.
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