That written agreement is usually in the form of RF 481 — Earnest Money Disbursement and Mutual Release of Sale and Purchase. This form allows for the forfeiture of the earnest money by the ...

Now, the seller refuses to sign a mutual release, and their lawyer ... the preprinted offer to purchase form states that unless otherwise agreed, the earnest money is held by the listing broker ...

The real estate agent places the earnest money in an escrow account and cannot release it until both parties provide written permission. However, the real estate agent or broker may return the ...

the buyer must fill out tax form W-9 with the IRS to receive the interest. Different jurisdictions may have different legal circumstances around earnest money. For example, Washington state ...

If the deal falls through and a disagreement arises over who is entitled to the earnest money, the neutral entity that’s holding the funds cannot unilaterally decide to release the money to any ...

The money is required to be held in an escrow account (usually the selling broker is the holder). It is not uncommon for buyers or sellers to be confused concerning the application and release of ...