Legal Question in Real Estate Law in Texas

earnest money

I have been a realtor here for 34 years and I have always believed that an earnest money release could not be signed in advance. now another realtor has asked me to obtain an earnest money release from my buyer for a month in advance of the potential closing. please advise where I may go to obtain information in writing or if I have been wrong, please advise me. Thanks,


Asked on 10/31/06, 4:33 pm

1 Answer from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: earnest money

Why put up any earnest money at all? Signing a release in advance defeats the purpose and the contract would fail for lack of consideration.

Read more
Answered on 10/31/06, 6:31 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Texas