Earnest money is a deposit made to show a buyer’s serious intent. It’s usually 1–3% of the purchase price and is held in escrow. If the deal falls through due to a contingency, it’s often refundable. But if a buyer backs out without cause, the seller may keep it.
What Is Earnest Money and Is It Refundable?
Related Posts
Leave a Reply
Popular News
"This site is dedicated to publishing timely and authoritative press releases focused on foreclosure news, property auctions, and surplus funds recovery. Stay informed with the latest developments in the housing market, legal updates, and opportunities for reclaiming excess proceeds after foreclosure sales.