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Six Things to Know About Earnest Money Deposits on Bank-Owned Homes

Sunday, April 12, 2009 at 1:15 AM

  • Make the Earnest Money Deposit Payable to Title.
  • Funds Must Be in the Buyer's Account to Cover the Check.
  • Prepare to Replace the Earnest Money Deposit with a Cashier's Check Upon Offer Acceptance.
  • Be Ready to Immediately Overnight the Earnest Money Deposit to the
  • Bank's Designated Title or Escrow Company.
  • Negotiate Earnest Money Deposits Below the Maximum for Small Claims Court.
  • Time Your Negotiations for Non-Refundable Earnest Money Deposits.

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