Definitions for "Earnest money deposit"
A deposit made by the person who bids on a home to show that he or she is serious about buying it. This deposit is refunded if the seller backs out, but not if the buyer backs out.
A cash deposit made to a home seller to secure an offer to buy the property.
Known as good faith money; used to show the Seller the seriousness of your offer.
Keywords:  held, bind, sum, sale, estate
A sum of money given to bind a sale of real estate. Usually held by the real estate company until closing.
Keywords:  assets
Earning Assets