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What is an EMD?

An Earnest Money Deposit (EMD), often simply referred to as earnest money, is a deposit made by a buyer to a seller, indicating the buyer’s good faith and intention to complete the transaction. It’s commonly used in real estate transactions. When a buyer decides to purchase a home, they make an EMD to show that they are serious about proceeding with the purchase.

The EMD is held in an escrow account and is applied towards the purchase price of the home at closing. If the deal goes through as planned, the earnest money is usually credited towards the buyer’s down payment or closing costs. However, if the buyer backs out of the deal without a valid reason as stipulated in the purchase agreement, the seller may have the right to keep the earnest money as compensation for the time and opportunity lost.

The amount of an EMD varies but is typically a small percentage of the sale price of the home. Its primary purpose is to provide reassurance to the seller that the buyer is committed to the purchase.

Earnest Money Deposits

Bridging the Gap Between Seller and Buyer

Why Choose Us?

Welcome to GotEarnest.com – your trusted partner in facilitating seamless real estate transactions. In the world of property dealings, the earnest money deposit is more than just a commitment – it’s a statement of trust and assurance. At GotEarnest, we specialize in providing secure, efficient, and reliable EMD (Earnest Money Deposits) services that bridge the gap between seller and buyer. No money ever goes to us, everything is done with time-tested contracts and the title company. 

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Contact Us

We’d love to talk to you. If this is urgent please text us at this number and state your urgency.

info@gotearnest.com

(435) 527-5540

299 S. Main St Suite 1300 PMB 94322 Salt Lake City, UT 84111

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