Earnest money refers to a sum of money that is paid upfront by a buyer to show their serious intent to purchase something, usually a property or goods. It demonstrates commitment and is often held in escrow until the transaction is finalized. If the buyer backs out of the deal without a valid reason, they may lose the
earnest money. Full definition
Similar and related words and phrases are presented below.
«earnest»
«money»
Related phrases
Phrases with «earnest money»
Sentences with «earnest money»
- Your purchase agreement has been written to cover potential recovery of earnest money in escrow. (markersf.com)
- Their ability to provide earnest money in a timely fashion will be an indicator of liquid reserves. (realtormag.realtor.org)
- All her associates work out of home offices and use the company offices for little more than a drop - off point for earnest money deposits and the occasional client meeting. (realtormag.realtor.org)
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