Home Buying in 10552>Question Details

mn2009, Home Buyer in Mount Vernon, NY

What does the terms, " 3% EMD payable to LO" mean?

Asked by mn2009, Mount Vernon, NY Sat Dec 5, 2009

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7
Amazing how many answers to a question that was answered satisfactorily over a year ago.
Don
0 votes Thank Flag Link Sat Jan 29, 2011
Another term for earnest money is deposit. Earnest money is the amount of money given by the buyer to the seller with an offer to purchase a home. The purpose of the deposit is to show good faith that you are serious about purchasing the home.

EMD is Earnest money deposit.
LO is the Listing Office. The money you deposit on the purchase of a home goes to the listing office. It does not get delivered directly to the seller. The listing office will then deposit it in an escrow account. The amount you deposited will be applied to the purchase price of the home.

Tammy Hayes, Sandals Realty, Punta Gorda, FL
0 votes Thank Flag Link Sat Jan 22, 2011
EMD= Earnest Money; LO= Listing office.
0 votes Thank Flag Link Sat Jan 22, 2011
LOL - Thank you all for the responses. I saw this on lstig online nd wondering what it meant. Thank you!!
0 votes Thank Flag Link Sun Dec 6, 2009
Hi, Agree With Al. All You are eligible for the bonus round...please pick 5 consenants and a vowel! :o)

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
Legends Realty Group
914.406.9023
0 votes Thank Flag Link Sun Dec 6, 2009
Hey Al................good guess......makes sense to me! :)
0 votes Thank Flag Link Sat Dec 5, 2009
I'm not an agent, but I believe it stands for: "earnest money deposit payable to listing office".
0 votes Thank Flag Link Sat Dec 5, 2009
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