What Is Meant By Earnest Money In The Real Estate Sector ? The term earnest money is referred to the amount of money, which is paid by the buyer to the seller, at the time of making a deal of a home. The earnest money represents the goodwill of the buyer to buy the property. It has a variety of other names as well such as escrow deposit, the money of goodwill, or deposit on a property. Several people are unaware of the term of earnest money. For this reason, this blog is specially written to provide all the major and minor details related to earnest money in the real estate sector . What Is The Significance Of Earnest Money? Earnest money in the real estate sector holds great importance as it is a contract indicating the level of interest of the buyer. Moreover, all the real estate properties form the contract of earnest money. The chance of fraud is decreased because the earnest money acts as a solid agreement. Another significance associated with the earnest mo
