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Transaction Data Sheet – Release Of Earnest Money
99% of all problems in the real estate business
involve escrow funds of buyers and sellers. More disputes are generated from
you and I being the "Holder" of earnest money funds with our day to day
You will receive a carbon copy of what you submitted
here regarding this transaction. It can take up to 48 hours to process your
request for this earnest money release.
This area is to submit a request to release earnest
money that is NOT a closing.
Please note the following:
1. ELECTRONIC SUBMISSION - All release of earnest
money requests must be submitted electronically via this area of the web site.
2. CALLING OF CORPORATE OFFICE EMPLOYEES - Do not call
any Corporate Office employees initially regarding the release of earnest money
funds. Your submitted information will be delivered to the Broker and
instructions will be generated. You will be notified via e mail or the internal
Responsibility Manager regarding the next step.
3. EXECUTED TERMINATION & RELEASE BY PRINCIPALS -
If a non hostile release, Buyer and Seller must have executed and accepted a
Termination and Release agreement.
4. EARNEST MONEY TO CLOSING ATTORNEY PRIOR TO CLOSING
DATE – An amendment will need to be generated by the agents with the buyer and
seller’s signatues to authorize the release of any earnest money funds.
5. FEE – The Corporate Office may have a fee for this
release. Please view the “Published Fees – Corporate” area of the home page.
6. FLOAT – If you submitted earnest money in NON
certified funds, the Corporate Office may have to wait until enough time has
elapsed to disperse the funds in question to the buyer, seller or other entity
7. SIGNATURES OF PRINCIPALS – Any release documents
must have buyer and seller signatures to process a release. If one of the
principals gives you as agent authority to sign the release, proper state
documentation will need to be presented to the Corporate Office. For example, a
power of attorney. Please proceed to complete the below questions so this
transaction can be processed.
Lastly, for final processing:
1. COMPLETE ALL BELOW FIELDS - You will need to
complete ALL fields 100% to process this request.
2. SUBMIT - Submit the Termination and Release
agreeement signed by all parties below via e mail in the up load area below as
an Adobe/PDF or JPG file. OR FAX this document after you click on "UPDATE" and
the termination and release to FAX # 888-442-6377 or 800-848-2175. This
document will e mail to your in box. For any and all questions, please consult
with your Manager or submit a question on line at
www.propertysystems.com under "Broker On Duty".
Property Systems Corporate Office
If YES, please upload to the web site below and submit
to the Corporate Office.
I am submiiting all documents via: