Words or Phrases to Describe a Legal Concept.
What Is Earnest Money? Earnest Money is a store made to a vender that speaks to a purchaser's decent confidence to purchase a home. The cash gives the purchaser additional opportunity to get financing and lead the title search, property evaluation, and examinations before shutting. From numerous points of view, sincere cash can be viewed as a store on a home, an escrow store, or great confidence cash. Earnest money is basically a store a dealer makes on a home they need to buy. An agreement is reviewed during the trading of the sincere cash that diagrams the conditions for discounting the sum. Earnest money stores can be somewhere in the range of 1–10% of the business cost, contingent generally upon showcase premium.