This form is an Assignment of Money Due. The assignor agrees to grant to the assignee all title and interest in a certain debt or money due as described in the agreement. The form also provides that it is the responsibility of the assignor to collect the debt.
Earnest Money For Due Diligence In Nassau
Category:
State:
Multi-State
County:
Nassau
Control #:
US-00422
Format:
Word;
Rich Text
Instant download
Description
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The standard NC contract also has a separate amount for earnest money which is not forfeited until due diligence closes. An earnest money deposit isn't required, as there are no laws stating that home offers must have money attached to them.The fee is meant to incentivize the seller to complete the due diligence process and provide evidence that the buyer is serious about buying the property. While due diligence money is nonrefundable, earnest money is refundable but only if the buyer decides not to buy the home. If the contract was contingent on loan approval, then your earnest money should be returned. Due diligence money is a fee that buyers proffer at the time they make an offer on a home. In essence, it is the buyer's good faith payment to the seller. In such event, any Earnest Money Deposit paid shall be refunded to the Board of County Commissioners.
