09/24/2026
Once your offer is accepted, earnest money is one of the next important pieces of the transaction to understand.
Earnest money is generally a deposit showing that you’re serious about purchasing the home. It is typically held in escrow, and depending on your purchase agreement, it may later be applied toward closing costs or other funds due at closing.
The amount, deadlines, and circumstances under which earnest money may be refundable are determined by the terms of your contract, so it’s important to read your purchase agreement carefully and ask questions when something isn’t clear.
Buying a home? Connect with Jackson Realty and let an experienced local real estate professional help guide you through the process.