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An earnest money deposit is cash you put down with your offer to show you're serious about buying. It's refundable and goes toward your down payment, but the seller keeps it if you back out without a valid reason.
An earnest money deposit is cash you put down with your offer to show you're serious about buying. It's refundable and goes toward your down payment, but the seller keeps it if you back out without a valid reason.
In short, the earnest money deposit helps make your offer stronger and protects both the buyer and seller during the buying process. It's your way of saying, "I'm serious about your home."
