The earnest money deposit receipt is given to a buyer of real estate after entering into a purchase agreement with a seller.
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Background. The deposit slip is given to the buyer after funds have been received which binds the parties into the agreement. The earnest money deposit is typically the buyer's first check written.
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Just to be clear, earnest money is not your down payment. An earnest money deposit is what you give to the seller of a home in good faith. Earnest money is a good faith deposit that is part of the down payment, but it should not be confused with a down payment.
Earnest money gives sellers monetary assurance that a buyer won't back out of the contract without valid cause.
Showing 20 of 5k+ results. $ enter deposit amount in u.s. Down payment means the initial payment you do while you are buying something on credit. Think of your good faith deposit as an advance on the sale.
