Thursday, December 19, 2013

Earnest Money: Expecting Earnest Money from a Client

If you are expecting earnest money from your client or a co-op client (i.e. the contract says that Maximum One is to hold the earnest money and you do not have it in your possession) it is YOUR RESPONSIBILITY to check on the whereabouts of that earnest money. If Maximum One does not have it as the contract says we should you MUST NOTIFY us so we may contractually fulfill our obligation to notify the parties.