The earnest money deposit receipt comes to a customer that has voiced interest in a parcel of property by supplying a monetary deposit at a series of great faith.
The earnest money must be made payable into a respectable 3rd party like an based real estate broker as well as legal business, and escrow company, or even title company.
The receipt on average contains a refund policy department which explains when owner is permitted to continue to keep the deposit so when the client`s deposit will be reimbursed.
If the purchase goes through, the deposit will proceed towards the advance payment.
The deposit amount, deposit account/account holder, address of property, and seller and buyer advice needs to be clearly written on the receipt.