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 seller accepts your offer and the deal goes through, the earnest money will be go toward the purchase of the house. So it becomes part of your investment in the property. If you back out of the deal, however, you could wind up forfeiting the earnest money to the seller.