Contracts
In Hawaii, an 'earnest money' deposit in a real estate transaction serves to:
AA. Pay the agent's commission upfront
BB. Demonstrate the buyer's good faith and serious intent to purchase the property✓ Correct
CC. Pay the seller for taking the property off the market
DD. Fund the title insurance premium at closing
Explanation
Earnest money demonstrates the buyer's good faith and serious intent. It provides the seller with some security and is typically applied toward the purchase price at closing.
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