What is earnest money?
What does earnest money go toward?
How to protect yourself
1. Read the terms and conditions of the contract
Pay special attention to key dates and ensure that any necessary actions are taken by those dates.
2. Ensure all necessary contingencies are included
Some of the most common contingencies include:
3. Place your earnest money in escrow
Earnest money FAQs
How much earnest money is enough?
Is earnest money the same as a down payment?
But once the deal is finalized, you can apply your earnest money deposit to your down payment.
Is earnest money always required?
Other financial considerations when buying a home