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School Reports in Pembroke Pines, Weston and Miramar, Florida
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Real Estate Tips
Making An Offer >Keeping Your Earnest Money Safe

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.

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Real Estate Trivia
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Where in the United States will you find the largest concentration of million-dollar homes?

A 
There are almost 314,000 million-dollar homes in the United States, and 41% of these are located in California.
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Ana Orge, REALTOR®, real estate agents and broker for Pembroke Pines, Weston and Miramar Florida home listings, property and land for sale - NUMBER1EXPERT(tm)

Ana Orge
Keller Williams Partners Realty

2000 NW 150th Avenue, Suite 2000
Pembroke Pines, FL 33028
Phone #: 954-472-8102
Fax #: 954-237-0401
Email: ana@orgeteam.com

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