What is Earnest Money and Why Do I Have to Pay It?

    What is Earnest Money and Why Do I Have to Pay It?

    Jan 15, 2019

    It has recently come to my attention that earnest money is often overlooked when realtors talk about the process of buying a home, yet it is part of EVERY SINGLE TRANSACTION!!!

    So what is this "earnest money" we speak of? Well, it's basically a promise to your seller that you are going to do everything in your power to make it to the closing table. It's your "skin in the game", so to speak. Now, not to worry... You get this money back at closing!!! It isn't gone forever. :)

    Check out this 4 minute video clip to learn more about earnest money and where it goes, what happens to it, and the "what-if's" surrounding it:

    https://youtu.be/Gin9fNntoCc

    About your author:

    Liz Miller

    The More With Miller Team Leader

    Mother of 2.

    Soccer mom.

    Carb-loader.

    Top 10 agent.