Contracts
Earnest money deposited in an Alaska real estate transaction is best described as:
AThe broker's commission held in escrow
BA deposit showing the buyer's good-faith intent, applied to purchase price at closing✓ Correct
CA non-refundable option fee
DA security deposit for the property
Explanation
Earnest money demonstrates the buyer's good-faith intent to purchase. It is typically held in a trust or escrow account and applied to the purchase price (or down payment) at closing.
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