Iowa Administrative Code
Agency 193E - Real Estate Commission
Chapter 13 - Trust Accounts and Closings
Rule 193E-13.4 - Consent to Return Earnest Money Not Necessary
Universal Citation: IA Admin Code 193E-13.4
Current through Register Vol. 47, No. 13, December 25, 2024
When an offer to purchase is withdrawn or the acceptance is revoked without liability pursuant to Iowa Code chapter 558A, any earnest money deposit is promptly returned to the buyer without delay. The seller's consent and agreement to release the funds is not necessary. A copy of the written revocation or withdrawal is retained with the trust account supporting documents.
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