11/03/2026
🏡 **Trish Tips Tuesday | Earnest Money — What Does It Actually Do?**
You've found a home you love, made an offer, and the seller accepted. 🎉
Now you're being asked to put down earnest money. But what exactly is it, and where does that money go?
💰 **Think of earnest money as a good-faith deposit.** It shows the seller you're serious about purchasing their home.
Here's what you should know:
✅ **It's not an additional fee.** Your earnest money is typically credited toward your down payment or closing costs when you close.
✅ **It's held during the transaction.** The money is generally held by an escrow agent or other designated party until closing.
✅ **You may be able to get it back.** If the purchase falls through under certain protections outlined in your contract, your earnest money may be refundable.
⚠️ **But here's the important part:** If you don't follow the terms of your purchase agreement, you could risk losing that deposit.
That's why I always want my buyers to understand what they're signing, what deadlines matter, and how their earnest money is protected.
Buying a home involves a lot of moving pieces, but understanding the process makes it much less overwhelming!
Have a real estate question? I'm always happy to help! 💙
🌐 triciameier.exprealty.com
