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Earnest Money Addendum to Purchase Agreement - American Title

Earnest Money Addendum to Purchase Agreement - American Title 2025

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The document is an Earnest Money Addendum to a Purchase Agreement, detailing the handling of the earnest money deposit by American Title Company. It specifies that the deposit will not be released without mutual written consent from both Purchaser and Seller or a court order, and it will only be returned after 10 business days in the trust account to prevent issues with insufficient funds. It also notes that a Real Estate Agent or Broker may deliver the earnest money.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

How do you write an addendum to a purchase agreement?

How to write an addendum to a contract Mirror the language of the original contract. Choose an addendum title. Specify the parties. Clarify the part of the original contract the addendum refers to. Ensure compliance with the original contract and all other relevant regulations. Add any additional elements.

Can I get my earnest money back if I change my mind?

You will likely have forfeited your earnest money if you change your mind after removing your contingencies. However, in the state of California, a buyer must remove their contingencies by completing a contingency removal form. Otherwise, their contingencies remain in effect.

What is the addendum for earnest money?

An earnest money deposit addendum adds terms to a purchase agreement that require the buyer to pay a deposit as a down payment on the property. The deposit is referred to as earnest money and is held in escrow until all closing conditions have been met and the sale is completed.

Who delivers the buyers earnest money to the title company?

A buyer typically will pay earnest money via a certified check, personal check or wire transfer. The funds are then deposited into an escrow account and held by a representative agreed to by the buyer or seller, whether thats an attorney, real estate agent, agent of a title company or another third party.

Do you give earnest money to title company?

Typically, you pay earnest money to an escrow account or trust under a third party, like a legal firm, real estate broker or title company. Acceptable payment methods include personal check, certified check and wire transfer. The funds remain in the trust or escrow account until closing.

What do you write on an earnest money check?

In the for or memo line of your check put EMD (property address) and put it in a sealed envelope labeled EMD (Property Address) and your name. This will ensure the check is deposited into the correct account within the title company.

What is the most common addendum?

The most common addendum is an attachment or exhibit at the end of such a document. For example, a contract to manufacture widgets may have an addendum listing the specifications for said widgets.

Earnest Money Addendum to Purchase Agreement - American Title 2025

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