I just closed on a home with a buyer who took advantage of this program and ended up investing less than
his original earnest money deposit.
The original earnest money amount was $ 25,000; however, the Buyer obtained a number of extensions prior to the closing date, each time increasing the earnest money until the earnest money totaled $ 40,000.
REMINDER: Once your bid has been accepted, you MUST submit
the original earnest money funds (NOT a copy of check) w / the Sales Contract Package to to PEMCO «WITHIN 48 hours», Your contract will be REJECTED without the funds.