Commission. (EM9-9-12) (Mandatory 1-13) THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. EARNEST MONEY RECEIPT Date: Earnest Money Holder acknowledges receipt of the Earnest Money in the amount of $______________ in the form of___________________________, to be held by Earnest Money Holder in its trust account, on behalf of both Seller and Buyer pursuant to the Contract to Buy and Sell Real Estate described below. Until Clo.
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How to fill out the CO EM9-9-12 online
The CO EM9-9-12 is an earnest money receipt form crucial for real estate transactions in Colorado. This guide will provide detailed, step-by-step instructions to help users easily complete and submit the form online.
Follow the steps to accurately complete the CO EM9-9-12 online.
- Click the ‘Get Form’ button to access the CO EM9-9-12 form and open it in your preferred editor.
- Enter the date of completion in the designated field. This indicates when the earnest money receipt is being executed.
- In the section labeled 'Earnest Money Holder,' specify the individual or entity acknowledging the receipt of the earnest money.
- Fill in the amount of earnest money received in the allotted space. This should reflect the exact sum being held in trust.
- Indicate the form in which the earnest money is being submitted, whether cash, check, or another method.
- Complete the sections for the seller and buyer by providing their names as agreed in the transaction.
- Record the date of the contract for the sale and purchase. This ensures all parties are synced regarding timelines.
- Provide details for the property being sold, including the street address, city, state, and zip code to clearly identify the transaction.
- Complete the section for 'Earnest Money Holder' and include a signature along with the title and date of signing to validate the document.
- Once all fields are accurately filled, review the information for completeness and accuracy. You can then save changes, download the completed form, print it for your records, or share it with the relevant parties.
Complete your CO EM9-9-12 form online today for a smooth real estate transaction!
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Get answers to your most pressing questions about US Legal Forms API.
Who keeps earnest money?
Earnest money goes into an escrow account usually held by the real estate broker or the title company. If a deal falls apart because the house doesn't pass a home inspection, the earnest deposit is usually returned to the buyer.
Who typically holds the earnest money?
In most cases, the listing agent will hold the earnest money in their escrow account until closing. However, if the sale doesn't involve a real estate agent, you should arrange for a title company or Real Estate attorney to act as the 'escrow agent'.
What reasons can a seller keep earnest money?
Every situation is different, but broadly speaking, the seller gets to keep the earnest money if the buyer decides not to go through with the home purchase for reasons not specified as part of the contract.
Who keeps earnest money if seller backs out?
Seller Cancels the Contract. Sometimes, the seller changes their mind and decides not to sell the property for some reason. If the seller terminates the contract, then the buyer will get the earnest money deposit returned.
Who gets earnest money when buyers back out?
The earnest money typically goes towards the buyer's down payment or closing costs. It is refunded to the buyer only upon certain contingencies specified in the contract. If the buyer cancels the contract outside of the contingencies, it is released to the seller.
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