10/22/2026
Earnest money is one of the first things buyers encounter after an offer is accepted but what exactly is it?
It’s a deposit that shows a buyer’s good-faith commitment to the purchase. Depending on the purchase agreement, it may be credited toward the buyer’s costs at closing. What happens to the deposit if a deal falls through depends on the contract and circumstances.
Buyers, make sure you understand your deadlines and contingencies before signing!
Save this for your next transaction.
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