🎥 Do You REALLY Need an Earnest Money Deposit? 🤔🏡

Before you buy a home, you might hear the term earnest money deposit (EMD)—but is it actually necessary? 💰

👉 Short answer: YES, in most cases!

An earnest money deposit is a good faith payment that shows the seller you’re serious about buying. It also helps make your offer more competitive—especially in a hot market! 🔥

📌 How much should you put down? Usually 1-3% of the home’s price, but it depends.
📌 Where does it go? It’s applied to your down payment or closing costs when the sale is finalized.
📌 Can you lose it? Only if you back out for a reason not covered in your contract (like skipping the inspection or changing your mind).

💡 Pro tip: A bigger EMD can sometimes help win a bidding war over another buyer!

Thinking about buying a home and want to make the best offer? Let’s talk! 📩👇

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