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The following statement regarding earnest money is FALSE: Earnest money is not required for a contract to be valid. Earnest money must be at least

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The following statement regarding earnest money is FALSE: Earnest money is not required for a contract to be valid. Earnest money must be at least 10% of the contract price. The earnest money is deposited in an escrow account if an offer is accepts A boat could be used as earnest nithney

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