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Accepting an offer
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Accepting
an Offer
After you accept an offer from a potential buyer, you and the buyer sign a purchase agreement and the buyer puts down earnest money, as stipulated in the contract.
Earnest money is a security deposit that demonstrates the buyer is genuinely interested and serious about the purchase. That money is placed in an escrow account, which is a neutral third party that holds all documents, instructions and money necessary to carry out the transaction.
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