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A few minutes ago
Kathy Burgreen answered:
Trulia, Zillow and other real estate websites are for U.S. properties only. You need to go to websites for Europe or Luxembourg. Websites for Europe should end with .fr (France), .dr (Germany?), etc. ... more
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A few hours ago
Joseph Bertino asked:
Wherever we go, must be in the laws of his probation. You can look up the FL state laws about the restrictions, but its basically he cannot be within 1000 ft of any school, park, playing…
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A few hours ago
Brenda Fu asked:
A few hours ago
Richardlong71913 asked:
A few hours ago
Wtina495 answered:
A few hours ago
yasmin OROUMI asked:
We make over 100K a year, have good stable income, money in the bank and if needed can provide a co signer. We would like to rent a home in Fremont, Newark, Hayward or Union City. Can anyone…
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A few hours ago
cfrlaw answered:
When you list your property with a real estate agent, it will contain a term which describes who gets the earnest money in the event of buyer default. The purpose of an earnest money deposit is to provide assurances to the seller that the buyer has a legitimate interest in the property. When a buyer submits a purchase agreement, it will state the conditions under which the buyer will lose the right to his/her earnest money deposit. If the buyer defaults he/she forfeits their earnest money deposit.

Once there is a forfeit, you look at your contract with the real estate agent to determine who gets the earnest money. In my opinion, the seller should get the earnest money because s/he is carrying the property and incurs expenses while waiting for the deal to close. If the deal falls through, the agent can still collect his/her commission on a second sale. Moreover, if the sale falls through because the agent did not do his job (for example the agent did not properly review an "all cash" buyer and found out that the buyer does not have the funds to close the deal), it seems unfair that the agent should share in the earnest money.

I actually think that allowing an agent to get any of the earnest money is a conflict of interest for the agent. They can make money by "tanking" the deals. I had a situation where the agent got 50% of the earnest money on a million dollar listing. They had two sellers walk away because of default. The agent then sold the house to the third buyer. The the agent walked away with their full commission and earnest money payment that was MORE than their commission. Meanwhile, the owner of the house carried the house for over a year waiting for a sale and seeing sales fall through for reasons relating to the shortcoming of the agent and the agent's review of the qualifications of the buyers.

I would recommend negotiating that the seller gets 100% of the earnest money. Alternatively, the agent should get no more than what they would get if they sold the property, typically 3% or 6%. Sales people do not get paid for failing to perform, neither should real estate sales people.
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A few hours ago
Yballard1028 asked:
filed 2 years ago and has been discharged
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A few hours ago
Kmonty2470 asked:
I'm unable to drill down to neighborhoods that have rental within this school district. Please help
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A few hours ago
Pete.davis23 asked:
Looking for fixer upper in south ms. Or handy man specials
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Yesterday at 7:40pm
Dina asked:
Added features would be helpful term lease required and if single level units.
Thank you
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Yesterday at 7:23pm
Isabelle answered:
Yesterday at 7:19pm
Rhonda Holt answered:
Hello, here in New York we use attorneys for real estate transactions and it is required that the sellers attorney deposit the buyers down payment into his or her separate escrow account, this is not the same as his or her business or personal account. I hope this answer helped you . ... more
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