Earnest money deposits are relatively common in competitive markets, especially when a seller has concerns that a buyer may make multiple offers on other properties. The real estate agent places ...

If you have questions about how earnest money deposits are handled in your state, consider consulting a local real estate attorney. You can find one by using the American Bar Association’s ...

My husband and I put down earnest ... back our deposit. Any other options? A. Let’s start by making two presumptions. One, that you were using the Multi-Board Residential Real Estate Contract ...

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Now for the longer answer: When you sign a purchase agreement for real estate, you’re legally bound to the contract terms.

Escrow is an arrangement of a third party holding money in an account to protect both the buyer and seller. You'll keep an earnest money ... lender and your real estate agent, get to work ...

There also may be legal and financial consequences to canceling a real estate contract. For instance, you risk losing your earnest money unless there are contingencies in place that protect you.

The money is held until certain terms of the agreement — such as buying a home — are finalized. With real estate deals ... escrow accounts store the earnest money deposit from the buyer.

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