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Mary Zentz, REALTOR®, real estate agent and broker for Palatine and Arlington Heights Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)


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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 is considered the oldest surviving non-native building in the U.S.?

A 
The governor's palace in Sante Fe, New Mexico, built in 1609, was constructed with materials and methods adapted from the native Indians.
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Mary Zentz, REALTOR®, real estate agent and broker for Palatine and Arlington Heights Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

Mary Zentz
RE/MAX Suburban

1808 N Arlington Heights Rd.
Arlington Heights, IL. 60004
24-Hour Office : 847-385-3007
Toll-Free: 866-232-7370
Cell: 847-707-9507
Email: Mary@MarysHomes.com

When you're buying or selling a home, And you don't want to do it alone. Mary Zentz is the one who makes real estate fun. Just give her a call on the phone. "It Makes $en$e . . . Call Mary Zentz

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RE/MAX Suburban real estate and homes for sale in Palatine and Arlington Heights Illinois

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