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Ask Anything: Denton, Flower Mound and Lewisville Texas home buying, real estate listings, and homes for sale in Denton County, TX

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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	Where was the great land boom (1919) in which investors paid up to $25,000 for lots not yet dredged up from the ocean?
A	The great Florida land boom brought hundreds of investors to the state after Carl Fisher founded Miami Beach in 1919.
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CTX Mortgage - Rodney Anderson
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Team Tiller, REALTORŽ, real estate agents and broker for Denton, Flower Mound and Lewisville Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

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Keller Williams Realty
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Team Tiller's highly motivated professionals, along with our helpful and courteous office staff are here to provide the highest level of service while listening carefully to assist you in all your real estate needs. Our success has been demonstrated by the numerous referrals, repeat and satisfied customers that we work with every year. On average, 53% of the business Team Tiller does in a given year is referral based with a 98.96% customer satisfaction rating. We strive to stay on the cutting edge of the real estate industry for the benefit of our clients along with giving them extraordinary service..... Team Tiller has built its reputation and success on customer satisfaction. We pledge to you the highest level of service possible while maintaining honesty and integrity in everything we do. Above all, our team is committed to always placing the client first. If we promise to perform, you can consider it done!

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