There was always language in that section that automatically gave you, the agent, 1/2 of the earnest money if it were forfeited by the buyers and given to the sellers. Most agents were not aware of that and most never used it. Line 95 was changed from one half of the earnest money to a fill-able amount to give the seller and listing agent a chance to negotiate this amount. if you feel uncomfortable taking some of the earnest money should it be forfeited and given to the Sellers, then put “0” on that line.
In the May 2020 Listing Agreement, lines 91-96, I’m not clear here on line 95, __________________ of the earnest money deposit, what should I put here?
by David Dynes | Jun 2, 2020