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Let’s Be Earnest When Talking About A Good Faith Deposit

One of the most overlooked items on the purchase contract is the earnest money or good faith deposit. Sellers and agents are so anxious to see what the offer price is, they miss a key component of the offer. What is a earnest money deposit? There is a good definition & article on the same subject here by Elizabeth Weintraub. My definition would be anything of value, mainly money, put forward by the buyer to show good faith to the seller that they are genuinely interested in buying the property. The deposit, … [Read more...]