Earnest Money and Option Fee
This document covers critical facts about Earnest Money (EM) and the Option Fee, particularly Paragraph 5 of the TREC 1 to 4 contract, which is a frequent source of disputes in real estate transactions. It explains payment deadlines, the application of payments, and the consequences of non-payment.
You'll also learn key legal considerations, including contract termination rights, the importance of deadlines, and suggested clauses to protect sellers. Download to understand how to handle EM and Option Fee issues and ensure compliance in your real estate transactions.