Mt. Gilead, Cardington and Marengo Ohio 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 are the world's most valuable chairs?
A	A pair of Chippendale chairs designed by Robert Adam sold in 1997 at Christie's, London to an anonymous buyer for $2,762,330.
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Herb Baldwin, REALTOR®, real estate agent and broker for Mt. Gilead, Cardington and Marengo Ohio home listings, property and land for sale - NUMBER1EXPERT(tm)

Herb Baldwin
RE/MAX Genesis
745 W. Marion Road
Mount Gilead, OH 43338
Office/Cell: 419-946-3800
Direct Line: 419-947-4004
Fax: 866-372-5239
herb@herbsells.com
Herb Baldwin, Realtor® Associate with RE/MAX Genesis, is a highly motivated, full-time professional dedicated to serving his clients needs with integrity. With over 30 years experience in the customer service field, Herb understands what his clients needs are. Because Herb understands that referrals and repeat business are the key to continued success, he is dedicated to providing the highest quality of service to his clients.

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