Augusta
VIP Contributor
When trying to acquire a property or asset you need to show some seriousness. You need to present some funds to allow the buyers know they are in for a purposeful contract with you.
So this is where Earnest money deposit comes in . This money is a good faith deposit, which is the initial money to be deposited by a buyer once a seller accepts an offer put down by a buyer.
It doesn't only shows the buyer willingness to buy, but actually making the right moves to buy by offering the initial deposit.
The amount of the EMD can be any agreed amount and held by an escrow company.
So this is where Earnest money deposit comes in . This money is a good faith deposit, which is the initial money to be deposited by a buyer once a seller accepts an offer put down by a buyer.
It doesn't only shows the buyer willingness to buy, but actually making the right moves to buy by offering the initial deposit.
The amount of the EMD can be any agreed amount and held by an escrow company.
