Special Offers From Us To You! 

When you make an offer on a house, it is accompanied by an earnest money check. Earnest money is intended to demonstrate that you are "in earnest" about purchasing the property. The earnest money check is made out to the listing company. What happens to this check?

The party holding the check acts as an escrow agent until you go into closing. At that time you will receive credit for the amount of your check against the down payment and closing costs. Real estate brokers are required by law to keep escrow funds in a special account. These funds cannot be used to pay any other expenses associated with the sale. If you don't complete the transaction, the purchase contract determines the disposition of your earnest money funds. Be sure to review this part of your contract with the real estate agent.

If you are in default on your agreement, the funds may go to the sellers, so be sure that you understand the deadlines in order to avoid breach of contract and forfeiture of your deposit. If you have any questions, be sure to ask your real estate agent for advice.

	See All Tips In The "Making An Offer" Category >
	See Complete Library Of Hundreds Of Tips In 30+ Categories >

The Jannone Team
Prudential New Jersey Properties
1996 Washington Valley Rd
Martinsville, NJ 08836
Office: 732-469-7470
Fax: 732-271-8940
brianjannone@NUMBER1EXPERT.com

Licensed since 1986, Brian Jannone is a successful Broker/Sales Associate with in depth experience in relocation, real estate sales, marketing, and client relations. In 1993, Brian started the "team" so he could better serve his clients. One of Prudential Real Estate Network’s annual top associates, Jannone has again received the Platinum Level membership in the NJAR Circle of Excellence. He is also a Prudential Chairman’s Circle member at the Platinum level, a recognition that only two percent of sales associates in Prudential’s international network achieves. Their exceptional service attitude has made them the number one team of their company.

www.CentralNJHomeSearch.com is brought to you by The Jannone Team
NUMBER1EXPERT in real estate for Bridgewater, Hillsborough, Bedminster and Basking Ridge, New Jersey

Read The Jannone Team's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge