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When one of my clients is about purchase property the first thing I tell them is that they need to have funds available for a deposit. This is what is called an Earnest Money Deposit. It is a "good faith" deposit, not a down payment. A deposit showing that in good faith you are going to purchase the property. The amount of Earnest Money differs from house to house. If there is a lot of interest in a home, a larger amount could give you more of an advantage . If not, a lower amount could work. At the time of … (0 comments)
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