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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 tropical haven is back in vogue, attracting celebrities like Cher, Madonna, and Sylvester Stallone, who have homes here?
A	Made up of 17 islands in Biscayne Bay, Miami Beach is the "American Riviera" and famous for its tropical beauty.
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Tom Follert, The Realtor who SELLS the Chicago Suburbs

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Tom Follert, REALTOR�, real estate agent and broker for Chicago Northwest Suburbs and Hoffman Estates Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

Tom Follert
Executive Realty Group
140 W. Lake Street
Bloomingdale, IL 60108
Direct: 630-213-2111
Office: 630-336-3201
Professional Service, Cutting Edge Technology and Experience produce the results for Tom Follert�s clients and put him above the crowd in today�s ever changing Real Estate Market.

Over a 20 year veteran in Real Estate and ranked in the top 1% Nationwide of all Real Estate brokers, Tom Follert�s philosophy is simple:

There is no substitute for Hard work, Experience and Knowledge. Tom is an acredited Buyers and Sellers agent, A Graduate of the Real Estates Institue and has many more designations and credits, But he is aware that "All the Real Estate Designations & Titles in the "World" do not mean a thing if a Professional does not give you the "Service" you deserve. I will give all my Buyers and Sellers the cutting edges tools and do what is necessary in this ever changing market to make your Real Experience, "A Succesful one I WORK FOR YOU!! I will give you the attention you deserve along with the tools to be effective in Buying or Selling!! My Service is second to none. My customers receive discounted fees, full internet exposure and advertising every day in diversified publications to produce results in a timely manner.

If Experience, Service and Results matter to you, then don�t trust just anyone with your Real Estate Investment. Contact me to find out how I can make your Real Estate Investment a Successful one. My experience in the Northwest Suburbs is second to none. Let me put my experience to work for you!

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