What is Earnest Money Deposit (EMD) ?

💰Earnest Money Deposit (EMD) 💰

An Earnest Money Deposit (EMD) is a sum of money you put down when making an offer on a home to show you’re serious about buying. Typically, it’s 1-3% of the purchase price and is held in an escrow account until closing.

Why is it important?

✅ Shows Commitment: It demonstrates to the seller that you’re committed.

✅ Protects Both Parties: If the seller backs out, you get your money back. If you back out without a valid reason, the seller may keep it.

✅ Part of Your Payment: If the deal closes, the EMD goes toward your down payment or closing costs.

In short, the EMD helps secure the deal and shows good faith in the transaction.

Contact me for all of your home selling, buying, and investing needs! 🏡

Jacqueline Sanchez - REALTOR®
(510) 604-1715 | DRE# 02213716
Keller Williams Advisors - Peninsula Estates
jacqueline.sanchez@kw.com
www.jacqueline-sanchez.kw.com

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Видео What is Earnest Money Deposit (EMD) ? канала Jacqueline Sanchez | Bay Area REALTOR®