Exam term
Earnest money
A buyer's deposit made under a purchase contract. It is distinct from the mutual promises that supply consideration and is not required for a contract to exist.
Lessons that use this term
- Purchase contracts: contingencies, deposits, and liquidated damages California
- Deposits held by a title company or attorney, and commingling Florida
- Essentials of a valid contract Florida
- Closing costs, transfer and mortgage recording taxes, and prorations New York
- Essential elements of a valid contract Texas
- Contract status: executed and executory, valid, void, voidable, and unenforceable Texas
- Breach of contract, remedies, rescission, and termination Texas
- Earnest money, equitable title, and contingencies Texas
- Settlement and closing the transaction Texas
- Settlement math: prorations, debits and credits, net to seller, cost to buyer, and closing fees Texas