Jessica Dean Realtor

Earnest Money Deposit

Money given by a buyer upon signing a sales contract, showing the buyer’s intention to carry out the terms of the contract .

📖 TERMINOLOGY TUESDAYS

Earnest Money also sometimes called a Good Faith Deposit is collected in the beginning and later applies to your down payment or closing costs.
🔥It’s important to note that it is NOT necessary for a valid contract to exist however in a hot market a higher earnest deposit may give you a leg up if you are up against multiple offers.
🔥It’s important to discuss with your REALTOR ® the conditions and perimeters that your earnest money can/should be refunded before the contract is drawn up and executed!

ʜᴇʟᴘғᴜʟ❓ 🆂🅰🆅🅴- This for future reference 🅂🄷🄰🅁🄴- To a friend who’s been wondering about this exact topic 🇫​🇴​🇱​🇱​🇴​🇼​- for all things home and real estate.

I might have something in eye...🥲. I can’t even put into words how much I love what I do: here’s so much that goes on behind the scenes and I know sometimes my kiddos think all I do is work, but getting to achieve these type of outcomes and provide for my family in this way, is literally a DREAM. ❤️🤍💙