Legal Question in Real Estate Law in Florida
Is earnest money a legal requirement in Florida?
Asked on 1/22/18, 12:10 pm
2 Answers from Attorneys
Alan Wagner
Wagner, McLaughlin & Whittemore P.A.
No, it is not
Answered on 1/22/18, 12:34 pm
Barry Stein
De Cardenas, Freixas, Stein & Zachary
agreed it is not a requirement. it is done as a formality so that the purchaser can show that they have real interest in purchasing the property and creates a fund against which default damages can be collected.
Answered on 1/22/18, 1:15 pm
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