Southern Indiana Real Estate © 2007
Contact AgentPaul Wonning 812-756-5447 Cell pwonning@northstarrealty.cc
Toys, Hobbies and Crafts
Little Toy Planes
Gardens & Nature
Hoosier Hurricane
Hobby Hobnob
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Southern Indiana Real Estate © 2007Contact AgentPaul Wonning 812-756-5447 Cell pwonning@northstarrealty.cc |
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Toys, Hobbies and Crafts Little Toy Planes Gardens & Nature Hoosier Hurricane Hobby Hobnob Abes Beer Garden |
 Home Buyers Index 
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In a real estate transaction it is customary for the buyer to make an earnest money deposit at the time the purchase offer is
tendered. This deposit is not a requirement, but it does ensure good faith on the buyer's part and most sellers will look more
favorably on an offer which includes a deposit. The size of this deposit is not set, but it should be large enough to: Discourage the buyer from defaulting on the contract Compensate the seller for taking the property off the market during the offer period in case the deal falls through Cover any expenses the seller incurs if the buyer defaults on the aggreement. The earnest money deposit is deposited by the listing broker in a special account set up for that purpose. The earnest money deposit should not be in cash, but rather a check or money order made out to the listing broker. The earnest money deposit will be returned to the buyer at the closing of the contract. If the offer is not accepted by the seller, the check will be immediately returned by the agent who holds it. |
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