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.
The earnest money agreed upon is deposited into an escrow trust account upon seller acceptance of the purchase agreement. Earnest money is used for the down payment and buyer's portion of settlement fees known as closing costs. The seller may be entitled to all or a portion of the earnest money deposit should the buyer fail to abide by contract terms.