In a real estate transaction, what must accompany a written offer?

Prepare for the Indiana Real Estate Commission Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

In a real estate transaction, it is essential for a written offer to be accompanied by an earnest money deposit. The earnest money serves as a demonstration of the buyer's good faith and seriousness regarding their intention to purchase the property. By putting down this deposit, the buyer is essentially indicating their commitment to the transaction and making a show of trustworthiness to the seller. This deposit can later be applied towards the purchase price at closing or may be forfeited if the buyer fails to follow through with the purchase under the terms agreed upon.

The other options do not carry the same significance or obligation when submitting a written offer. A letter from the buyer's lawyer may provide additional context or assurance but is not a requisite component of the offer itself. A property appraisal can be crucial later in the transaction, particularly in the context of securing financing, but it is not necessary to accompany the initial offer. Similarly, a marketing strategy may be relevant for the seller’s consideration but does not need to be included with the buyer's offer. The requirement of an earnest money deposit reflects the importance of commitment and security in real estate transactions.

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