What is Earnest Money?

Earnest Money is the amount of money you promised the seller to deposit with your broker in “good faith” once your offer was accepted. Your earnest money check should be paid by check or money order, in the amount agreed upon, within the time frame indicated, in the purchase agreement.  This payment will be credited towards the purchase price and the amount of funds you will need to bring to your closing.

Posted in: Buyer FAQ