Helloyou car Peter Christensen here coming to you from the CEOs desk so I want to talk about a forum that's often misunderstood and that's the confirmation of receipt of earnest money form so a couple things a couple questions I get asked about this forum I get asked hey Peter is this forum required and the short answer is is no it's not required by law however your brokerage may require it I've heard that before where brokers say we want this in the file so go get it signed so that's a different story that's a brokerage policy but the law doesn't require it you are however required to get your earnest money by the deadline right otherwise in my view you have a legal obligation to disclose to the listing side that you haven't received earnest money ing to the contract because it's now a defect in the transaction so that's a different that's a different video that's what go into that but it's a great tool to use it's a great tool it shows a record of when you got the interest money it's a form that you can then forward on saying yes look listing side I received the earnest money so it's a good tool the second question I get asked often about that form is do I have to get the sellers signature so it's got a spot for a seller signature on there and sometimes you don't get that back you may provide that to the listing side say hey we got the earnest money you know be it peace it was in on time and then you don't receive a copy of a back and again is it required that a seller or listing agent sign that and send it back...
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How to prepare Owners Sale Agreement And Earnest Money Receipt
About Owners Sale Agreement And Earnest Money Receipt
An Owner's Sale Agreement is a legal document used by the owner of a property to outline the terms and conditions relating to the sale of their property. This document is typically used in transactions that involve parties who do not have a pre-existing relationship, such as a property owner selling their property to a third party. An Earnest Money Receipt, on the other hand, is a document that outlines how much earnest money has been paid by the purchaser of the property, and how it will be accounted for in the event that the sale does not go through. Both of these documents are typically required in real estate transactions. The Owner's Sale Agreement outlines the terms of the sale, including the purchase price, any contingencies, and specific details about the property being sold. The Earnest Money Receipt outlines how much money is being put down towards the purchase of the property, and serves as proof of the purchaser's intent to follow through with the sale. Typically, the Owner's Sale Agreement is drafted by the seller's attorney, and the Earnest Money Receipt is prepared by the buyer's agent or attorney. Both documents are signed by all parties involved in the transaction, and serve as a legally-binding record of the transaction.
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