Who should hold Earnest Money?
I am a devoted believer in escrow officers holding earnest money. I always have and always will be. In some states like Nevada, earnest money is always held by a 3rd party escrow office. On the contrary, in states like Nebraska and Colorado, it is quite common for earnest money to be deposited into the broker trust account. As a seller, you typically do not want earnest money held by the broker representing the buyer. Given a choice, I would recommend to our sellers to request all earnest money be held by a 3rd party escrow office. This eliminates any concern of the broker representing the buyer holding the good faith money, should any conflict arise at a later time.

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