Legal Question in Real Estate Law in Tennessee
Buyers Agent
If I represent the buyer and he gives me earnest money for the option contract, is the check made out to my company or the listing company?
Diane
Asked on 3/02/06, 1:45 pm
1 Answer from Attorneys
Joseph T. Kirkland, Jr.
Kirkland, Rothman-Branning & Associates, PLLC
Re: Buyers Agent
If the funds you are speaking of is true "Option Money" then it brobibly should be made to the seller as option money is not typically not refundable and is the consideration for the "Option".
If the Funds are really "Earnest Money" then you look to the contract and if it is silent it makes no difference as both companies are regulated by TREC. Call the TREC legal hotline if this does not answer your question.
Answered on 3/02/06, 2:02 pm
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