Earnest Money Deposit also known as Good Faith Deposit
When you make an offer on a property, the seller will require an Earnest Money Deposit (EMD).
Why it is important? An EMD is a deposit made to show the seller that you're serious about your offer. It's usually 1-3% of the purchase price, and it goes toward your down payment if the offer is accepted.
If you have any question, give us a call!
#HomesInOrangeCounty #TeamCarrieAndCharisse #CaliberRealEstateGroup #OrangeCountyRealEstate
Post a Comment