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Earnest Money

Earnest payment

From Wikipedia, the free encyclopedia.

An earnest payment (sometimes called earnest money or simply earnest ) is when a buyer gives of something of value (money or otherwise) to a seller at the time an agreement is made and it is accepted by the seller as an indication that the agreement is complete. For the gift to be earnest it must be given outright by the buyer to the seller with no intention of ever getting it back.

Typically, if the offer is accepted, the earnest is kept by the seller and subtracted from the purchase price, or is kept in escrow until closing, when it is applied to the buyer's portion of the remaining costs. If the offer is rejected, the earnest money is usually returned. If the buyer retracts the offer, the earnest is forfeited.

Retrieved from " http://en.wikipedia.org/wiki/Earnest_payment "

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Homeowner associations are designed to be representative democracies governed by a board of directors elected by the members. Electing directors to the board that can thoughtfully govern is extremely important. To accomplish this, elections must be carefully planned, not hatched at the last minute. Here are important components of a successful election process: [read more]

If you've been waiting for rock-solid statistical evidence that the housing market -- and the national economy -- are well along into recovery mode, you definitely got it last week. [read more]

FreeRateUpdate.com research of wholesale lenders' rate sheets shows conventional 30-yr fixed mortgages available today at 4.875% to well-qualified consumers paying a standard origination fee of .07 to 1 point. [read more]

Hartz Mountain Industries, Inc., New Jersey's largest real estate development company, has signed an agreement with the U.S. Environmental Protection Agency (EPA) to cut energy and water use and to take other steps to reduce the environmental impacts of its retail and commercial properties across the state. Buildings are responsible for close to half of the nation's greenhouse gas pollution. Under the agreement, signed on March 11, Hartz will take steps to promote sustainability in its operations. [read more]

A recent memorandum from the legal department of the California Association of Realtors® (CAR) warns CAR members as follows: "Undisclosed payments in short sale transactions, especially those paid outside of escrow, may violate the law, including RESPA, laws against loan fraud, and licensing laws." [read more]

It happens to all of us -- as we get older, our eyesight and hearing aren't as good as they once were, and our balance and reflexes start to let us down. We start taking medications to treat what ails us, but that may cause dizziness or lightheadedness. That can often lead to a fall, especially if there are tripping hazards in the home. [read more]

Whether you are a first time home buyer or someone who is looking to move up or down, getting into the market can be a fearful time. [read more]

As warm weather makes it way across the nation, sprinklers come out of hibernation and return to their full time positions, pools fill up, and many a garden hose sees daylight for the first time in months. [read more]

At a time when many homeowners are walking away from their homes and letting them be foreclosed on, others who are hanging in there may be racking up delinquencies by not paying their Homeowners Association Fees which ultimately hurts not only the HOA but also the entire development and its owners. [read more]

This season brings with it its share of rainy days. And while you and other homeowners may not be able to work on your yards, clean out gutters, or install that new walkway, a stormy day can be a perfect time to settle in to enjoy family and the home you've put so much effort in to. Here are ten great stay-at-home activities for you to try with your crew. [read more]

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ROCKVILLE, Md.----Washington Real Estate Investment Trust reported financial and operating results today for the quarter ended June 30, 2010: Funds From Operations was $0.50 per diluted share compared to $0.53 per diluted share in the same period one year ago. [read more]

OAK BROOK, Ill.----Inland Real Estate Auctions, Inc. announced today a roster of properties that will be sold during an auction event on Sept. 15 in Oak Brook, Ill., including retail and office buildings, an industrial building, single-family homes, apartments and development land. [read more]

Real estate agent Audrey Johnson has injected some horsepower into one of her listings. Anyone who buys a five-bedroom home in Homer Glen will get the owners' cherry red 2001 Mercedes convertible as well. The home has been for sale for almost six months and it's a tough market right now, Johnson said with about 80 homes for sale in Homer Glen that are in the $400,000 to $700,000 range. [read more]

Pure Industrial Real Estate Trust today announced the successful closing of a single tenant, income-producing industrial property that was previously announced on July 23rd, 2010 for a total purchase price of $14,800,000. [read more]

There is a growing demand for real estate locally which is expected to sustain the property industry, with developers catering to all socio-economic classes of home buyers. These developers, together with corporate executives and diplomats from the international community, have agreed to speak and share their knowhow in real estate infrastructure development at the Philippine Real Estate ... [read more]

OAK BROOK, Ill.----Inland Real Estate Corporation today announced that it has extended the expiration date for its offer to exchange or purchase any or all of its outstanding 4.625% Convertible Senior Notes due 2026 , of which $125 million aggregate principal amount are outstanding, for a new series of 5.0% Convertible Senior Notes due 2029 or cash, or a combination thereof, and the related ... [read more]

TORONTO, ONTARIO--(Marketwire - July 29, 2010) - RioCan Real Estate Investment Trust ("RioCan" or the "Trust") (TSX:REI.UN) today announced its financial results for the three and six months ended June 30, 2010. [read more]

TORONTO, ONTARIO--(Marketwire - 07/29/10) - RioCan Real Estate Investment Trust ("RioCan" or the "Trust") (TSX: REI.UN - News ) today announced its financial results for the three and six months ended June 30, 2010. HIGHLIGHTS FOR THE SECOND QUARTER: -- Funds from operations ("FFO") increased by 37% to $92.8 million in the second quarter of 2010 compared to $67.9 million in the second quarter of ... [read more]

Neil R. Aaronson, CEO of Hilco Real Estate, LLC today announced the appointment of Barry D. Kaufman as Senior Executive Vice President and Senior Advisor for HRE. Â Mr. Kaufman will direct a newly-formed business unit, Hilco Real Estate Retail Solutions, which can function as a retailer's fully-integrated, outsourced real estate department, or provide portions of a retailer's overall real estate ... [read more]

The 4th Philippine Real Estate Festival (PREF) exhibit and forum opens on Thursday (July 29) at the World Trade Center with President Benigno C. Aquino III to address the annual real estate sector national event as guest of honor and speaker. Vice President Jejomar C. Binay, concurrent chairman of the Housing and Urban Development Coordinating Council (HUDCC), will head the ribbon-cutting, give ... [read more]

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