In Oregon, the official offer to purchase real estate is called the Earnest Money Agreement (EMA). It is the buyer’s offer to purchase the seller’s property. The seven page contract outlines the terms of the sale and most importantly how the earnest money is handled throughout the transaction. What is earnest money and how much… Continue reading Earnest Money

The Department of Treasury defines earnest money as: a sum of money given to bind an agreement, such as the sale of real estate, the advance of a loan or some other transaction requiring a deposit. Earnest money is forfeited by the donor if he or she fails to carry out the terms of the… Continue reading Earnest Money in Oregon

In a heated market developers are only too happy to let buyers out of their contract so that they can raise the price. Now a couple of developers (John Ross and Civic) have decided that they are going to enforce the contracts that buyers entered into. It’s an interesting situation for a couple of reasons.… Continue reading Developers Go After Earnest Money