The time has arrived. You’ve found the home of your dreams and are prepared to make an offer. Now what? All real estate contracts must be in writing and a seller will not accept a formal offer without an Earnest Money Deposit (EMD). Earnest money is a deposit made to a seller showing the buyer’s good faith to proceed in a transaction. The EMD is an important part of the home buying process as it confirms to the seller that you are a legitimate and committed buyer. Without an EMD, a buyer could potentially make offers on several houses taking them off the market until they decide on their favorite. Continue reading
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