escrow

Posted By: mk on 2007-06-10
In Reply to: About earnest money on sale of house - Elaine

Yes the money gets put into escrow and you do not see any of it until closing unless they back out for a ridiculous reason. The realtor would be able to tell you that. Like if they back out because of inspection reasons or stuff like that they got the money back but if they decide all of the sudden 2 days before closing they dont want it the money becomes yours. Otherwise, you will recieve it at closing and it does get applied towards the cost of the house from the buyers perspective. It is just $5,000 less they have to take a mortgage out for. HOpe this helps.

Complete Discussion Below:

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About earnest money on sale of house - Elaine
- no - sm
- Ernest money - Patti
- Ernest money is yours to keep regardless. It - should be paid in cash to you up front with terms.
- escrow - mk
- What I have experienced in that past - - old dog
  - Thanks for the info but not really getting that much - Elaine
    - I think he did it wrong; even if you are selling a house - sm - XXX
      - The 10% was lakefront property - Elaine
        I meant that if a buyer gave him - sm - XXX
- I don't claim to know much about but as - sm - XXX

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