» accepted offer</h1> <article> <h1>Seller Accepts Offer and Buyer Provides Binder Deposit</h1> <p>Ulster Real Estate — Mon, 05 Jul 2010 16:11:29 +0000</p> <p>Once the buyer and seller come to terms on the price and any contingencies, both the buyer and the seller sign a binder. The buyer places a deposit in an escrow account to be held until the closing settlement. The binder deposit is also called earnest money or a good faith deposit because it demonstrates to the seller that the buyer is serious about completing the real estate transaction and is monetarily invested in making the transaction work.</p> </article> </main></body></html>