Also called good faith deposit, earnest money is a monetary advance that the buyer pays to the seller at the time of entering a contract. Its purpose is for the buyer to showcase their intention and ability to carry out the contract.
Earnest money
Also called good faith deposit, earnest money is a monetary advance that the buyer pays to the seller at the time of entering a contract. Its purpose is for the buyer to showcase their intention and ability to carry out the contract.
