Contracts
In Wyoming, an earnest money deposit in a real estate transaction is best described as:
AA non-refundable payment to the seller upon offer acceptance
BConsideration that demonstrates the buyer's good faith intention to purchase✓ Correct
CThe buyer's down payment applied at closing
DA fee paid to the listing broker
Explanation
Earnest money is a good-faith deposit that demonstrates the buyer's serious intent to purchase. It is held in a trust account and applied toward the purchase price at closing.
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