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.
If the transaction doesnât close and the seller cannot return the money, you may have to pursue legal action, costing you more. Giving the money to a third party escrow agent protects the buyer from questionable sellers. The terms of the contract decide where earnest money lands if the contract is broken.