Is earnest money refundable in florida

What Is An Earnest Money Deposit? | Florida Title & Trust LLC Coconut Grove

It is a specific dollar amount that a potential buyer pays to the seller in an effort to display their serious interest in a property.

Without an agreement, the seller would be free to sell the home at anytime.

An earnest money deposit, however, secures the availability of the home as the potential buyer obtains an inspection, appraisal and financing for the purchase. In most cases, the earnest money deposit is negotiable and the seller will be happy in knowing that the potential buyer is serious enough to offer their money in good faith.

If day trading forex futures buyer defaults or is unable to obtain financing, the seller often has the discretion to retain the earnest money deposit what does it mean when a company buys back stock damages or is earnest money refundable in florida otherwise described in the purchase agreement.

In most cases, the deposit should be made payable and presented to a licensed real estate broker, is earnest money refundable in florida attorney or escrow company.

Information About Earnest Money Deposits in Florida

Before handing over a good faith deposit, make sure that you have faith in the person accepting your money. Potential buyers should not give an earnest money deposit directly to the seller, nor should they give it to anyone who claims to be with a brokerage firm unless their credentials are verified.

What's Earnest Money - Florida Property Center

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