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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 is the world's most expensive Monopoly set?
A	San Francisco jeweler Sidney Mobell created an exclusive $2 million Monopoly set, with solid 23 carat gold houses, chimneys made of rubies and sapphires and dice with 42 full cut diamonds for spots.
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Andrew Malone, REALTORŽ, real estate agent and broker for Old Fourth Ward, Midtown, Virginia Highlands, Inman/Candler Park and Grant Park, Georgia home listings, property and land for sale - Best Image Agent(s)

Andrew Malone
RE/MAX Around Atlanta
240 Sandy Springs Place
Atlanta, GA 30328
Cell: 404.246.3265
Office: 404.252.7500
E-fax: 800.385.1350
Fax: 404.974.4930
Email: andrewmalone@NUMBER1EXPERT.com
Email: amalone@remax.net
Email: remaxofatlanta@gmail.com
I am a Cum Laude graduate from Georgia State University with a degree in Finance and Marketing. I began my real estate career after graduating from college at the age of 23. I have been an individual practitioner in real estate for 9 years with RE/MAX in Atlanta, Georgia. I have helped over 250 familes find homes and average 30 home sales/year. My successes include: Presidents club 1 year, 100% club 5 years, Platinum club 1 year, Top New Agent 2004, #2 Agent in office 2006, #1 Agent in office 2007 & 2008, Top Team 2009 & 2010, Real Estate Lifestyle Magazine Rising Real Estate Star 2007, Jezebel Magazine - Who's Who in Atlanta 2010.

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