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 you are working with a MAR approved purchase agreement the Financing Addendum will spell out exactly what happens to the earnest money in the event that the buyer cannot secure a commitment for financing on this property. It likely says that they will get their earnest money back. In reality both parties can agree in writing to change that agreement and direct the earnest money to whichever party makes sense. But the catch is that you will need their permission.