Bremerton, Kitsap County and Silverdale Washington real estate listings, home buying, selling and relocation information

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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	What real estate term was first used in the 19th century and means "a high-flying flag on a ship"?
A	Skyscraper was first used in the 1880s when office buildings of 10 stories or more were built in Chicago and New York.
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Linda Wood, REALTORŽ, real estate agent and broker for Bremerton, Kitsap County and Silverdale Washington home listings, property and land for sale - NUMBER1EXPERT(tm)

Linda Wood
RE/MAX Platinum Services
9224 Ridgetop Blvd Suite #100
Silverdale, WA. 98383
888-516-3776
360-620-0256
360-662-5414
Fax: 360-613-0827
Email: LindaWood@NUMBER1EXPERT.com
Linda Wood is your top selling expert from Kitsap to Island County. As a professional Realtor for many years I have built a highly respected reputation throughout the community for service & integrity. While theres no denying that technology has made life better for all of us theres still no substituting the human aspect. I am committed to ensuring that all your needs are successfully met in an enthusiastic honest professional manor with a genuine commitment to providing unsurpassed Real Estate services. Honesty, loyalty, understanding, creativity & accountability are what sets me apart with my specialized services in Relocation, Residential properties and New Home Construction. So, if your looking to buy or sell real estate or just need a quick answer to a real estate question, e-mail or call Linda Wood Your Number 1 Expert.

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