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What is Earnest Money?

Earnest money, also referred to as a good faith deposit, is a sum of money put down by a buyer to show the seller they are serious about purchasing a property in a real estate transaction. It acts as a gesture of commitment and is part of the total purchase price.


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Peter Bately
Peter Bately
17 juil.

It's a way of showing commitment to the transaction and is held in escrow until the sale is finalized.


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