Posted by JPiper on January 14, 1999 at 01:38:26:
Just thought I would point a few things out.
First, Realtors can’t require a buyer to use their contracts. They must submit any type of offer that the buyer makes, to include one made on the buyer’s own contract. Having said this, using your own offer typically creates more problems than it’s worth to me, and for that reason I use the standard Realtor forms with an addendum. But I want to stress that there is no requirment to use the REaltor forms.
Earnest money is a negotiable term in the contract…as is the place that the earnest money is to be deposited. This is a term that is to be decided between the buyer and seller, not the Realtor.
Again, many Realtors may in fact be confused as to what the “rules” are, and may tell you that they “have” to hold the earnest money, or that offers “have” to be made of their forms. It’s not true…but it may simplify your life if you go along with these partiuclar idiocies.