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 buyer has an earnest money contract for $5,000.00, the buyer would think twice of nullifying the agreement and losing that amount of money. If on the other hand you had a $25,000.00 deposit and the buyer walked, the buyer may fight for years to get that money returned. Ugly!