Earnest money is the sum of money the home buyer pledges with the:
A) realtor to view homes.
B) realtor for finding the desired home.
C) lender to originate the loan.
D) seller to indicate intent of purchase.
E) lender to guarantee the purchase.

Question

Quizplus · Accepted Answer

Earnest money is the sum of money that the home buyer pledges with the seller to indicate their intent of purchase. This money is held in escrow until closing and is credited toward the buyer's down payment and closing costs.

Earnest Money Is the Sum of Money the Home Buyer