Escrow Agreement Earnest Money Deposit printable pdf download

ESCROW AGREEMENT

EARNEST MONEY DEPOSIT

To:

Absolute Title, Inc.

2875 West Liberty

Ann Arbor MI 48103

Re:

Property Address: _________________________________________________________

File No. _____________

We deposit with you:

a) a copy of a purchase agreement dated ____________________________, between

___________________________________________________________ (Seller), and

___________________________________________________________ (Buyer); and

b) earnest money of $_______________, in the form of a check payable to Absolute Title, Inc.

You are to hold the earnest money in escrow under the following terms and conditions:

1. You shall release the earnest money to the Buyer if you receive written evidence

satisfactory to you that the contingencies in the purchase agreement, if any, have not been

satisfied and the time for satisfaction has passed.

2. If the purchase agreement contingencies are satisfied, you shall release the earnest

money to Seller:

a) at the closing; or

b) when you receive evidence satisfactory to you that the sale has closed; or

c) when you receive written instructions from Buyer authorizing the release.

3. The money shall be released in any other way that Buyer and Seller jointly direct in

writing.

4. As an alternative to the above release provisions, you may deposit the money with the

Washtenaw County Circuit Court for determination of the disposition of the money.

5. Upon delivery by you of the earnest money in accordance with these instructions, this

escrow shall terminate and you shall be released from any further liability. Your liability is

limited to performing the above duties. By acceptance of this escrow you are acting in the

capacity of a depository only and are not responsible for the sufficiency, correctness,

genuineness, or validity of any documents furnished to you.

6. We understand that you will charge no fee for this service, since you have issued title

insurance in connection with this transaction.

7. Seller and Buyer agree to reimburse you for any and all expense, including reasonable

attorneys' fees, which you may incur as a result of any legal proceedings affecting this agreement

or your duties thereunder.

Dated: _________________________________

Seller: ________________________________ Buyer: ________________________________

Seller: ________________________________ Buyer: _________________________________

Absolute Title, Inc., acknowledges receipt of this Agreement, the purchase agreement, and the

earnest money, and agrees to the terms and conditions of this escrow.

Dated: ________________________

Absolute Title, Inc.

By: _____________________________

Escrow Agreement Earnest Money Deposit

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