What was the non-refundable escrow amount agreed upon by the Farsons?

In this scenario, the non-refundable escrow amount set by the Farsons is significant because it indicates the seriousness of their commitment to the transaction. A non-refundable escrow amount generally reflects both the seller's and buyer's agreement that the money will be forfeited if the buyer fails to complete the purchase, which helps protect the seller's interests.

When the Farsons opted for a non-refundable escrow sum, the chosen amount of $3,000 may have been influenced by various factors, such as the total purchase price of the property, comparable market practices, or negotiations with the other party involved in the transaction. This amount serves as a demonstration of the buyer’s dedication to proceeding with the deal, while also providing the seller a measure of assurance that they are not simply entertaining offers without a real intention to close. Such agreements can help facilitate smoother transactions by establishing clear financial expectations upfront for both parties involved.