Why canât information be deleted from the credit report? Experian stores information from credit grantors and public records in compliance with the Fair Credit Reporting Act. When you use credit, a record of your payment history is reported to credit reporting agencies.
(Updated March 4, 2016) No. Earnest money is not necessary to make an otherwise accepted offer into a valid contract. Earnest money is a buyer-performance item required to be deposited after a contract is fully executed. A contract could become effective even if no earnest money is required in the agreement.
Payment of a deposit or earnest money is absolutely unnecessary to contract formation. Earnest money can be an effective tool, if used as âliquidated damagesâ (legal term for monies the seller is allowed to keep should the buyer default and without having to prove actual damages in a court of law).