Earnest money, sometimes called a binder, is an amount of money a buyer puts down at the time of contract to show the seller that they are serious about purchasing. And they are so serious, they are willing to put up this much money now as a good faith gesture. This is supposed to "hold" the property until the buyer can close on the deal.

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Posted by Charles Woodall on 08/29/2007 01:29 PM   Comments (0)    

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Real Estate Brokerage: CENTURY 21 Key Realty
Charles Woodall
Dothan, AL
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CENTURY 21 Key Realty

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