What is Ernest Money Deposit or EMD?
Purchase agreements may include a pledge or deposit of earnest money. Earnest money is a cash deposit that proves that the buyer intends in good faith to buy the property. Subject to the parties’ agreement, earnest money may be used as a down payment on the purchase of the property. However, if the buyer fails to purchase the property as agreed, the earnest money may go to the seller.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The Royster Hearth Group does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The Royster Hearth Group will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
THE ROYSTER HEARTH GROUP
HOME is more than a place with a roof over your head. It is a place of comfort, love, warmth, rest and security – “HEARTH”. We want to help you reach that place. Hence, our mission at The Royster Hearth Group is simple – Serve Our Neighbors, Not Ourselves. We work hard to serve you in every aspect of the home-selling and -buying process.