Millburn, Short Hills, Summit and Maplewood real estate and homes for sale in New Jersey - Wendy Drucker

Contact Wendy, a top selling Towne Realty Group agent at 973-204-0100 or at Wendydrucker.com

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Real Estate Tips

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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Real Estate Trivia

Q	What was the first land designated by the US government as a National Park?
A	Yellowstone was established "as a public park or pleasuring ground for the benefit and enjoyment of people" in March 1872.
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Wendy Drucker, REALTORŽ, real estate agent and broker for Millburn, Short Hills, Summit and Maplewood, New Jersey home listings, property and land for sale

Wendy Drucker
Towne Realty Group
511 Millburn Avenue
Shorts Hills, NJ 07078
Tel: 973-376-8300
Fax: 973-532-0204
Cell: 973-204-0100
Email: Wendy@WendyDrucker.com
I am an expert in the towns that I serve and love what I do. My financial background from my Wall Street Bond Trading days serve me well in power negotiating. As an involved resident who has lived in town for many years, I bring you my unique insight into the local markets.