The Real Estate Encyclopedia
What is earnest money?
Category - Mortgage Questions - Mortgage Loans FAQ's
Earnest money is money that accompanies a contract for purchase. It is considered "good faith" money that shows a buyer is serious about purchasing the property. The more earnest money a seller receives the less likely the buyer will walk away from the deal. A contract is not a valid contract unless some earnest money is put down.


References


External Links
www.affordablelistings.com
 
 
Category(s)
Mortgage Questions - Mortgage Loans FAQ's
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