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.
Unfortunately, some real estate agents never explain the importance of the earnest money amount, nor how it is handled. Especially in todayâs market, most buyers will have to go to the closing with a minimum of 10% of the purchase price, so why can they not pay half down as good faith payment. There are no standard, set fees in real estate.