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- Earnest_payment abstract "An earnest payment is a specific form of security deposit made in some major transactions such as real estate dealings or required by some official Procurement processes to demonstrate that the applicant is serious and willing to demonstrate an earnest of good faith about wanting to complete the transaction.In ancient times, the earnest payment was called variously an earnest penny, Arles penny, or God's silver (in Latin Argentum Dei). It was either money or a valuable coin or token given to bind a bargain, notably for the purchase or hiring of a servant. According to Black's Law Dictionary (sixth ed.), Et cepit de praedicto Henrico tres denarios de Argento Dei prae manibus ("And he took it from the aforesaid Henry [sealed by a] silver three pence [piece] handed over [in the sight of] God").A potential buyer of property of high value such as residential real estate generally signs a contract and pays a sum acceptable to the seller by way of earnest money. The amount varies enormously, depending upon local custom and the state of the local market at the time of contract negotiations.In very competitive markets 'the earnest' may represent a substantial portion of the completion cost. In the USA, between about 2000 and 2005 real estate purchase earnest money deposits reached about 5% of the sales price. In other situations, a significant token payment (equivalent to around one week or one month's salary) may be acceptable. (In the USA during 2008 typically $500 or $1000 was acceptable)If the seller accepts the offer, the earnest money is held in trust or escrow.These funds may be held directly by the real estate broker (as in the State of New York) or by a settlement or title company (as in states like California, Florida, and Texas).When the transaction is settled then the deposit is applied to the buyer's portion of the remaining costs. If the offer is rejected, the earnest money is usually returned, since no binding contract has been entered into. Laws vary as to what happens with the deposit should the buyer fail to perform on the contract.".
- Earnest_payment wikiPageID "1543379".
- Earnest_payment wikiPageLength "3026".
- Earnest_payment wikiPageOutDegree "21".
- Earnest_payment wikiPageRevisionID "674176610".
- Earnest_payment wikiPageWikiLink Category:Legal_terms.
- Earnest_payment wikiPageWikiLink Category:Payment_systems.
- Earnest_payment wikiPageWikiLink Category:Real_estate.
- Earnest_payment wikiPageWikiLink Closing_(real_estate).
- Earnest_payment wikiPageWikiLink Coin.
- Earnest_payment wikiPageWikiLink Escrow.
- Earnest_payment wikiPageWikiLink Exonumia.
- Earnest_payment wikiPageWikiLink Financial_transaction.
- Earnest_payment wikiPageWikiLink Good_faith_(law).
- Earnest_payment wikiPageWikiLink Index_of_real_estate_articles.
- Earnest_payment wikiPageWikiLink Kings_shilling.
- Earnest_payment wikiPageWikiLink Latin.
- Earnest_payment wikiPageWikiLink List_of_real_estate_topics.
- Earnest_payment wikiPageWikiLink Procurement.
- Earnest_payment wikiPageWikiLink Real_estate.
- Earnest_payment wikiPageWikiLink Real_estate_broker.
- Earnest_payment wikiPageWikiLink Registration_fee.
- Earnest_payment wikiPageWikiLink Security_deposit.
- Earnest_payment wikiPageWikiLink Settlement_(closing).
- Earnest_payment wikiPageWikiLink Threepence_(British_coin).
- Earnest_payment wikiPageWikiLink Title_company.
- Earnest_payment wikiPageWikiLink Title_insurance.
- Earnest_payment wikiPageWikiLink Trust_(law).
- Earnest_payment wikiPageWikiLink Trust_law.
- Earnest_payment wikiPageWikiLinkText ""good faith money"".
- Earnest_payment wikiPageWikiLinkText "Earnest payment".
- Earnest_payment wikiPageWikiLinkText "earnest (money)".
- Earnest_payment wikiPageWikiLinkText "earnest money payment".
- Earnest_payment wikiPageWikiLinkText "earnest payment".
- Earnest_payment wikiPageWikiLinkText "earnest".
- Earnest_payment hasPhotoCollection Earnest_payment.
- Earnest_payment wikiPageUsesTemplate Template:Citation_needed.
- Earnest_payment wikiPageUsesTemplate Template:Realestate-stub.
- Earnest_payment wikiPageUsesTemplate Template:Refimprove.
- Earnest_payment wikiPageUsesTemplate Template:Reflist.
- Earnest_payment subject Category:Legal_terms.
- Earnest_payment subject Category:Payment_systems.
- Earnest_payment subject Category:Real_estate.
- Earnest_payment hypernym Form.
- Earnest_payment type Article.
- Earnest_payment type Article.
- Earnest_payment type Concept.
- Earnest_payment type Payment.
- Earnest_payment type Study.
- Earnest_payment type Term.
- Earnest_payment comment "An earnest payment is a specific form of security deposit made in some major transactions such as real estate dealings or required by some official Procurement processes to demonstrate that the applicant is serious and willing to demonstrate an earnest of good faith about wanting to complete the transaction.In ancient times, the earnest payment was called variously an earnest penny, Arles penny, or God's silver (in Latin Argentum Dei).".
- Earnest_payment label "Earnest payment".
- Earnest_payment sameAs Paga_i_senyal.
- Earnest_payment sameAs Závdavek.
- Earnest_payment sameAs Arrhalvertrag.
- Earnest_payment sameAs അച്ചാരം.
- Earnest_payment sameAs Arras_(direito).
- Earnest_payment sameAs m.0591ql.
- Earnest_payment sameAs Арра.
- Earnest_payment sameAs Arrha.
- Earnest_payment sameAs มัดจำ.
- Earnest_payment sameAs Q699604.
- Earnest_payment sameAs Q699604.
- Earnest_payment wasDerivedFrom Earnest_payment?oldid=674176610.
- Earnest_payment isPrimaryTopicOf Earnest_payment.