Is an Escrow Deposit required to make a contract enforceable?

Is an Escrow Deposit required to make a contract enforceable?

Chapter 11


No.  The escrow deposit or good-faith deposit is used to communicate to the seller that the buyer is serious about the contract.  However, the escrow deposit is not required.  Many people incorrectly believe that the Escrow Deposit is considered “Consideration.”

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