What If the Seller Wants an Earnest Money Deposit? (and You Don't Have it)
There's no Earnest Money required to make a real estate contract legal or enforceable. The exception to this rule is if you're entering into an OPTION to Purchase Real Estate. In that case, a $100 Option Deposit is required to make the option enforceable. Most real estate contracts, however, have monetary consideration in the agreement. […]
