figures: How is Earnest Money Applied at Closing? - 04/08/09 04:35 AM
Earnest Money is applied as a credit to you at Settlement.
The settlement sheet is basically a balance sheet. The money you owe is on the top of your side (purchase price, closing costs, your portion of property taxes, etc.) All the money paid on your behalf (loan proceeds, earnest money, the seller's portion of property taxes, etc.) is on the bottom of your side and is a credit to you. The difference between what you owe and what you have paid (including the Earnest Money) is what you have to bring in to closing (or what is refunded to you … (0 comments)

 
Benjamin Clark, Buyer's Agent - Certified Negotiation Expert (Homebuyer Representation, Inc.)

Benjamin Clark

Buyer's Agent - Certified Negotiation Expert

Salt Lake City, UT

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