Contracts
An earnest money deposit in Alaska is best described as:
AA non-refundable fee paid to the broker at the time of listing
BConsideration that demonstrates the buyer's good faith and intent to perform✓ Correct
CA statutory requirement set at 3% of the purchase price
DA payment made directly to the seller upon contract signing
Explanation
Earnest money is a good-faith deposit made by the buyer to demonstrate sincerity of intent to purchase. It is part of the overall consideration but is not a statutory requirement; the amount is negotiable.
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