Earnest Money

Earnest Money

What about earnest money?
 
NOTE: Earnest money is a part of a buyer’s downpayment and is designed to protect the seller against a buyer’s default. When you’re the seller, more is better. Think of it this way, “If someone is buying a home in the price range of my home, how much money would they likely NOT be willing to walk away from?” The Earnest Money, however, is NOT your money…not unless buyer DOES default (not perform in accordance to the contact and/or any subsequent agreements legally and officially made during attorney review, etc.) AND both buyer and seller agree to release the earnest money to the Seller.