Contracts
A Kansas buyer writes a very large earnest money check to strengthen their offer. In Kansas real estate practice, earnest money is considered:
AAlways 1% of the purchase price by law
BEvidence of the buyer's seriousness and financial ability, with no statutory minimum or maximum✓ Correct
CThe buyer's down payment for the mortgage
DCompensation to the listing agent
Explanation
Kansas law has no specific required earnest money amount. A larger earnest money deposit signals the buyer's commitment and financial capability, which can strengthen an offer.
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