Thinking about buying a home? 🏡 Let’s talk about earnest money #HomeBuyingTips

An earnest money deposit is a good-faith payment you make when you make an offer on a home. It shows the seller you’re serious! 💸 Typically, it's around 1%-3% of the purchase price. So for a $300K home, that could range from $3K to $9K!

Here’s the scoop: The deposit sits in an escrow account until closing. If the deal goes through, it goes toward your down payment or closing costs. 🎉 But if you back out without a valid reason, you could lose that deposit. Ouch! 😬

On the flip side, if the seller backs out, you usually get your earnest money back—so it’s a win-win if everything goes smoothly! 👍

In short: Earnest money shows your commitment and protects both you and the seller. Just make sure you're comfortable with the deal before you make that deposit!

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