Benton, Bryant and Saline County Arkansas real estate listings, home buying, selling and relocation information

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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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Q	What famous Art Deco skyscraper is decorated with eagle hood ornaments, hubcaps and abstract images of cars?
A	New York's Chrysler Building, designed by architect William Van Alen in 1930, was one of the first buildings composed of stainless steel over a large surface area.
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Audrey Raney and The Raney Home Team, REALTOR®, real estate agent and broker for Benton, Bryant and Saline County Arkansas home listings, property and land for sale - NUMBER1EXPERT(tm)

Audrey Raney and The Raney Home Team
Rector Phillips Morse
22461 Interstate 30, Suite 1100-A
Bryant, AR 72022
Phone # office direct: (501)316-3873
Office: (501)316-0955
Cell phone #: (501)860-4615
Fax #: (501)315-5346
Email: AudreyRaney@NUMBER1EXPERT.com
I have been selling real estate in Benton, Bryant and Saline County for 23 years turning "Dreams into Homes". I can also sell in the surrounding communities of Little Rock, North Little Rock and Maumelle. I value my work as a real estate professional and would love the opportunity to work in finding your perfect home!

Rector Phillips Morse Realty
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