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Why this matters: Follow the steps of a buyer agent from representation agreement to closing on a buyer’s acquisition of property and recognize a buyer’s breach of the purchase agreement.Follow along with an audio reading of this article ad...
Key takeaways
Earnest money and option fees are both payments buyers make when submitting an offer on a home, but they serve different purposes.
Earnest money shows a buyer’s commitment and is applied toward the purchase at closing.
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