What is an Earnest Money Deposit and What Does it Mean to Home Buyers?

Do you need to be able to sell your house at a certain price first in order to push through with the sale

? Does the house need to be appraised at a certain value because you don't have the means to pay for the difference should it be appraised at a lower price? Does the house have some important repairs that the seller should make first before you push through with the sale? Put all of these in writing and, if the seller agrees with them, he'll sign the contract too. This way it's clear that your earnest money will go back to you should you have an acceptable reason to back out of t

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What is an Earnest Money Deposit and What Does it Mean to Home Buyers?

By: Paul Sikes

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