3 Times You Risk Losing Your Deposit

3 Times You Risk Losing Your Deposit

  The deposit you put down for a home purchase is not refundable under certain circumstances.   When making an offer to purchase a home, you must also specify the amount of your earnest money deposit.   This is not the same as your down payment; the earnest money deposit (EMD) is an amount held as collateral in escrow for the consideration of the sale.  If the sale goes through and escrow closes, your EMD is put toward the down payment and closing costs. Depending on where you live, you can expect to offer up anywhere from 1% to 10% of...Read more