What is earnest money?
Earnest money is a deposit you put down to show your good faith and intention to purchase the property. Depending on the circumstances, you may not be able to get this money back if you decide not to complete the purchase.Escrow is money placed with a third party, often the lender, for “safekeeping.” During a real estate purchase, the buyer is typically required to place a portion of their down payment in an escrow account where it is held until the closing.
Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut: