What is earnest money, and how much of will I need?
Earnest money, sometimes referred to as an earnest payment or simple earnest, is a deposit towards the purchase of real estate made by a buyer to demonstrate that he/she is serious (earnest) about wanting to complete the purchase. This usually comes into play when a buyer has signed a contract to purchase the property and made an offer. The amount of earnest money that is put down varies greatly depending on market conditions, but your real estate agent will be able to help you determine an appropriate amount.
