10/22/2026
There's a payment many first-time homebuyers don't know about until they start making offers.
It's called earnest money, a deposit that shows the seller you're serious about buying their home. This money is usually applied toward your down payment or closing costs when the sale goes through.
The amount varies, and whether you can get it back depends on the terms of your contract. That's why it's important to understand how it works before making an offer.
Buying your first home in Roanoke and unsure what costs to expect? Send us your questions and we'll help you understand the process.
Kidd Carter, REALTOR®
Long & Foster Real Estate, Roanoke, VA
540-598-5433, KiddCarterHomes.com