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earnest money
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earnest money


We included $10,000 earnest money with our offer, so they would know we are serious.
  a small initial deposit attached to an offer to purchase real estate
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Notes:
Not all offers need to have earnest money, but sellers often like to see it as an indication that the offer is serious. Typically the earnest money is provided as a check which is deposited in escrow if the offer is accepted, or returned to the offerer if the offer isn’t accepted.

If earnest money is offered, the offerer should probably include it with a document stating circumstances in which the earnest money is to be spent. For example, if an inspection showed the building foundation was bad, the offerer would want their earnest money returned in full.
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Samples:
  • We included $10,000 earnest money with our offer, so they would know we are serious.
  • In the meantime there was a thousand dollars in earnest money—Carl put it on the table.
    David Guterson  --  Snow Falling on Cedars
  • As soon as the earnest money was paid, d’Artagnan took possession of his lodging, and passed the remainder of the day in sewing onto his doublet and hose some ornamental braiding which his mother had taken off an almost-new doublet of the elder M. d’Artagnan, and which she had given her son secretly.
    Alexandre Dumas  --  The Three Musketeers
  • Would you like some earnest-money?
    Jules Verne  --  Around the World in 80 Days

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  • Beneath, in Annie’s neat firm hand: Earnest money paid March 3rd, 1979.
    Stephen King  --  Misery
  • We accepted earnest money.
    David Guterson  --  Snow Falling on Cedars
  • You and your husband had recently put down earnest money on this land.
    David Guterson  --  Snow Falling on Cedars
  • Susan Marie knew Carl had spoken with Ole Jurgensen and had put down earnest money on Ole’s farm; she knew how Carl felt about the old place at Island Center and his passion for growing strawberries.
    David Guterson  --  Snow Falling on Cedars
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Associated words [difficulty]:   earnest money [8] , counter offer [8] , multiple listing service (MLS) [9] , counter offer [8]
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Most commonly used in these subjects:   Personal Finance, Business, Law
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