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| The Real Estate Encyclopedia |
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| What is earnest money? |
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| Category - Home Buying FAQ's - Financing
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| 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. |
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Courtesy of HomeOwners Advantage and link that to their entry in the wiki which is at HomeOwners Advantage |
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