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Steve 1 week ago

What is earnest money

Do you know what is earnest money and why it's used in real estate transactions? Earnest money is generally a deposit made by a buyer to demonstrate serious intent when making an offer on a property. Have you ever dealt with earnest money when buying or selling property? Share your experience with t...

What is earnest money

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• J

  @Josh replied to Steve

  1 week ago

  Earnest money is a deposit a buyer pays to show they’re serious about purchasing a property. It’s usually held in escrow and later applied toward the down payment or closing costs if the sale goes through. If the buyer backs out without a valid reason, they may lose the deposit.

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