06/20/2026
💰 Let's Talk Earnest Money 💰
One question I get from buyers all the time is:
"What exactly is Earnest Money?"
Earnest Money is a deposit made by a buyer when they submit an offer on a home. Think of it as a "good faith" deposit that shows the seller you're serious about purchasing their property.
A few things to know:
✔️ Earnest Money is NOT an extra fee.
✔️ It is typically applied toward your down payment or closing costs at closing.
✔️ If the transaction doesn't move forward for reasons covered by the contract contingencies, the buyer may be entitled to receive their earnest money back.
✔️ A stronger earnest money deposit can sometimes make an offer more attractive in a competitive market.
Every situation is different, and the amount of earnest money can vary depending on the price of the home, local market conditions, and the terms of the offer.
Buying a home can feel overwhelming, but understanding the process helps you make confident decisions.
Have questions about buying a home? Send me a message—I'm always happy to help!
🏡 Ashley Otto, REALTOR®
Serving Northwest Ohio
