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ADDITIONAL EARNEST MONEY HELD BY SELLER EXHIBIT THIS FORM IS NOT TO BE USED WITH A LEASE/PURCHASE AGREEMENT 2018 Printing This Exhibit is part of the Agreement with an Offer Date of for the purchase

How to fill out additional earnest money held

How to fill out additional earnest money held

1. To fill out additional earnest money held, follow these steps:
2. Identify the parties involved in the transaction, such as the buyer, seller, and real estate agent.
3. Determine the amount of additional earnest money that needs to be held.
4. Prepare a written agreement or addendum that states the terms and conditions of holding the additional earnest money.
5. Clearly specify the reasons for holding the additional funds and the duration for which it will be held.
6. Include the details of how the additional earnest money will be deposited, held, and released, such as an escrow account or third-party holder.
7. Make sure all parties involved in the transaction understand and agree to the terms of holding the additional earnest money.
8. Sign and date the agreement or addendum to make it legally binding.
9. Keep a copy of the agreement or addendum for future reference and record keeping.

Who needs additional earnest money held?

1. Additional earnest money held may be required in real estate transactions where certain conditions or contingencies need to be met before the sale is finalized.
2. This can include situations where the buyer requests additional time to secure financing, perform inspections, or fulfill other obligations outlined in the purchase agreement.
3. The party who needs the additional earnest money held is typically the seller or their representative.
4. By holding additional earnest money, the seller can ensure that the buyer is committed to completing the transaction and will fulfill their obligations before the sale is completed.

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What is additional earnest money held?

Additional earnest money held is extra money collected and held by the party in a real estate transaction to show additional commitment or assurance.

Who is required to file additional earnest money held?

The party holding the additional earnest money, typically the seller or escrow agent, is required to file the amount held.

How to fill out additional earnest money held?

Additional earnest money held should be recorded on the appropriate real estate transaction forms and disclosed to all involved parties.

What is the purpose of additional earnest money held?

The purpose of additional earnest money held is to provide further security and assurance in a real estate transaction, showing the seriousness of the parties involved.

What information must be reported on additional earnest money held?

The amount of additional earnest money held, the date it was received, and the reason for collecting it must be reported.