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#67780 - 03/09/04 07:31 PM contract binders
Anonymous
Unregistered


What is the minimum contract binder(earnest money) to make an Option contract binding in the state of Colorado?

Thanks,

------------------
Robert Malsch
RAMM Real Estate Ventures, LLC.
303-887-7660
rob@ramm.bz
http://www.ramm.bz

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#67781 - 03/10/04 11:13 AM Re: contract binders
Realty Check Offline
Major Contributor

Registered: 09/19/03
Posts: 2410
Loc: Panama City FL
Not sure one exist in any state. Most require an Option to have some form of value associated with it in order to be considered effective but it doesn't have to be actual money... it can be other things of value.

In most circumstances, the seller of the Option will determine what the option payment will be, not the state... after all it is the seller that is giving up something in the option.

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