Walk me through earnest money
Earnest money sounds like something from an old Western. It's actually pretty simple. Travis Wright here, with eXp Realty.
When you make an offer, you put down a deposit to show the seller you're serious. That's earnest money. It's held by a title company, not the seller, and it usually goes toward your costs at closing.
Here's the part people miss: your contract spells out when you can get it back. If an inspection or financing issue comes up within your timelines, you're usually protected. Miss a deadline, and it could get trickier.
So knowing your dates matters. That's one of the things I keep an eye on for my clients.
Reply EARNEST and I'll walk you through how it works on a real contract.
Travis Wright with eXp Realty
I help buyers and sellers in Lawton and the surrounding area with straight answers, honest price ranges, and zero pressure. Ask me anything. Seriously, I like questions.
OK License #206164 · 1146 NW Cache Rd, Lawton, OK 73507
Frequently Asked Questions
What is earnest money?
It's a deposit you put down when you make an offer to show the seller you're serious.
Who holds the earnest money?
A title company holds it, not the seller. It usually goes toward your costs at closing.
Can I get my earnest money back?
Your contract spells out when. If an inspection or financing issue comes up within your timelines, you're usually protected. Miss a deadline, and it could get trickier.
How can Travis help?
Reply EARNEST and Travis will walk you through how it works on a real contract.