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Melissa DeSantis


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I am a top real estate expert. Call me: 732-757-2522.

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Real Estate Tips
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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Real Estate Trivia
Q 
What makes the structure of the Hoover Dam unusual?

A 
The Hoover Dam was built to last 2,000 years, and is constructed of concrete that will not be fully cured for another 500 years.
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Melissa DeSantis, REALTOR®, real estate agent and broker for Freehold, Manalapan and Marlboro, New Jersey home listings, property and land for sale - NUMBER1EXPERT(tm)

Melissa DeSantis
RE/MAX CENTRAL

520 Route 9 North
Manalapan, NJ 07726
732-757-2522
Fax: 732-577-8375
melissadesantis@NUMBER1EXPERT.com

Call Melissa 732-757-2522 because the right Realtor does make a difference!


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