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.
To make the land contract legally binding, the buyer must give something to the seller. Usually, an earnest money deposit suffices as consideration. Earnest money deposits can range from $500 to $2,000 for a mid-priced home. Generally, the seller requests the amount of earnest money required from the buyer.