I’m kicking off my Real Estate Basics series going over terminology that you’re bound to run into whenever you’re buying or selling real estate! There are a ton of terms & lingo that we use in real estate so I wanted to make a series outlining each to help out people who may be new to the game or just need a refresher.
In this today’s video, I’m going to answer:
What is an Earnest Money Deposit (EMD), AKA Initial Deposit? Can I lose my Earnest Money Deposit? How much should I put for my Earnest Money Deposit?
0:33 What is an Earnest Money Deposit?
1:36 Can I lose my EMD?
2:26 How much should my EMD be?
4:05 Wrap up