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.
Earnest Money. Earnest money is the amount paid by the buyer during the initial offer to purchase the property. The money goes into a trust account and is applied to the purchase price at the closing. If the contract fails, the trust account administrator disburses the earnest money according to the specifications in the contract. Earnest money is an indicator of the buyerâs faithful intent to go through with the purchase.