In this episode of How to Buy a Home, I will explain important concepts related to Earnest Money. In most real estate transactions, earnest money will be required by the Seller from the Buyer as part of the real estate contract. I'm going to answer several questions related to earnest money that most people ask me when buying a home.
* What is earnest money?
* Where does it go during a transaction?
* When is it due?
* What is it used for at closing?
* What if I terminate? Will I get it back? How soon?
* What if I don't turn it in on time?
* What if there is an earnest money dispute?
I hope you find this episode helpful. If you can think of any other questions, let me know in the comments below!