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What is earnest money and how much is needed?

April 26, 2017earnest money needed

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What is earnest money and how much is needed?

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When you sign an offer to purchase document, the sales agent will ask you for ” earnest money.” This refers to a monetary commitment that shows that you the buyer are serious about wanting to buy. Usually, you will be asked to write a check for 5 up to 10 percent of the sale price.