Purchase Price, Earnest Money and Source of Funds

Essential Information for Home Buyers Purchasing Residential Property in Oklahoma

The Contract sets out the purchase price, the earnest money, and how the balance of the purchase price is to be paid. The earnest money will be deposited in the Listing Broker’s escrow account immediately following a fully executed and delivered Contract. At closing, the balance of the purchase price shall be paid in cash, cashier’s or certified check, or other funds acceptable to the Seller. This paragraph also authorizes the listing broker to donate any interest earned on the earnest money to the Oklahoma Affordable Housing Foundation.