earnest money agreement

What is Earnest Money ?

What is Earnest Money ? Here are some definitions : Earnest Money is a sum of money paid by a buyer at the time of entering a contract to indicate interest and ability of the buyer to carry out the contract.  Normally, earnest money is applied to the purchase price.  Often the contract provides for Forfeiture of this sum if the buyer defaults. An Earnest Money agreement is a real estate...

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