Earnest Money Deposit

At the time a written offer is initiated, you will be required by the seller to include a personal check, bank check or cash.  The amount is deposited into the listing broker’s escrow account upon acceptance and will remain in escrow until the time of closing.  This amount is credited to the buyer as partial down payment and represents your intent to purchase the property.  If the offer is not accepted, this amount is returned to you.  Also, in the event that you do not qualify with the lender for the new loan, the earnest money is refunded to you, provided the sellers are given notice regarding the lender’s disapproval.