Get Release Of Earnest Money
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How to fill out the Release of Earnest Money online
The Release of Earnest Money is an important document that enables buyers and sellers to mutually agree on the return of earnest money. This guide provides clear instructions to help you fill out the form correctly and efficiently online.
Follow the steps to complete the form with ease.
- Click 'Get Form' button to access the Release of Earnest Money document and open it in your preferred editor.
- In the first section, fill in the names of the Buyer and Seller as stated in the Purchase Agreement. Make sure to double-check for accuracy.
- Next, enter the date of the Purchase Agreement and, if applicable, the date or numbering of any Counteroffer. Accurate dates are crucial for the validity of the document.
- Then, provide the address or legal description of the real property involved in the transaction in the designated fields.
- Indicate to whom the Earnest Money should be returned by selecting either the Buyer or Seller. Make this choice clear to prevent confusion.
- Input the amount of Earnest Money being returned. Be sure to confirm this amount matches the original agreement.
- Next, detail any expenses that will be deducted from the Earnest Money amount. Add up all expenses and ensure the total is reflected correctly.
- Once all fields are completed, both the Buyer and Seller must sign the document in the areas provided, ensuring that all parties agree to the terms.
- Finally, enter the date on which the form is completed and signed. This is essential for the record-keeping process.
- After completing the form, you may choose to save your changes, download a copy for your records, print it, or share it with the involved parties.
Take the next step and complete your Release of Earnest Money online today!
Earnest money is always returned to the buyer if the seller terminates the deal. While the buyer and seller can negotiate the earnest money deposit, it often ranges between 1% and 2% of the home's purchase price, depending on the market.
Fill Release of Earnest Money
In the event that a contingency is met, you'll need the written permission of the seller to release the funds from the escrow title company who's holding them. Avoid it if you can. If the funds are in direct possession of the other party, they control the funds and can decide not to release them even if you are entitled to a refund.
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