What is an Earnest Money Deposit? (Good Faith Deposit)

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Information What is an Earnest Money Deposit? (Good Faith Deposit)

Title	:	What is an Earnest Money Deposit? (Good Faith Deposit)
Lasting	:	10.52
Date of publication	:
Views	:	36 rb

Does he change the term earnest money to "deposit" half way through this thing or is it just me not understanding?
Comment from : Beowulf Lang

Hey guys, if anyone needs help with EMD (Earnest Money Deposit), my partner and I provide short-term loans to help you get across the finish line If the deal falls through, there is no interest to pay Hit me up if you want to talk more Preferably you already have some buyers lined up and the deal closes in less than 2 weeks (up to 4 weeks)!
Comment from : Andrew Wilsher

"When you join a mob, they're gonna ask you to kill someone"brbrThat's a way to begin this explanation💀
Comment from : Divine Bunch

Think I slept 2 hours and n those 2 hours i dreamt about the earnest money issue Not knowing a thing about it, finally figured Brandon would have a video Thank you Brandon! Nobody has explained to me this up til know and I have an offer to make this morning 🤦🏽‍♂️ thank you bigger pockets and community!
Comment from : Frank M

I have VA loan at 100 financing but my agent tells me that I will not get my earnest money back at closing and I am not sure why ?
Comment from : DA Brown

What happens if you can only afford the earnest money for 1 of 2 accepted offers and you haven’t paid the earnest money on either yet Do you have to pay both or can you choose which deal you want to go through with? Can you be forced to pay earnest money on an accepted offer?
Comment from : Arlen Hartoonian

Makes since!
Comment from : York Dersona

with my experience the EMD sits in the real estate company bank (making interest for them) while my current home has a buyer and I don't have a place to live but yea based on my EMD amount I'm not serious to buy?? smells fishy to me
Comment from : Etzio Play

Lmao 😂
Comment from : Sarah Shanaa

I signed a contract and paid 5 earnest deposit to a home builder promising to build me a new house by the end of 2021 With COVID-19 forcing the world into a recession and massive unemployment, real estate will very likely crash within 6 months Is there a legal contingency for me to back out the deal without losing my money? If there isn’t, will there be any re-negotiation room on the home price again?
Comment from : Nathan Liang

How would I know if the earnest money has been deposit if the Buyer is closing with the title company or attorney of their own choosing?
Comment from : Extreme Home Properties

You don't place offers on homes unless your financing is bombproof solid Period So if you choose to include the financing contingency in your offer,,, you are basically telling the seller IM NOT SURE MY FINANCING IS SOLID In which case your offer will probably be rejected because you are a risk of wasting everyone's time As a seller I would never accept any offer with that contingency!
Comment from : tecnolover2642

Thanks for the video brI have a question Buyer submit the offer and give her $10,000 earnest money the sellers acceptance to six days but buyer decided to cancel the offer three days what will happen to the earnest money?
Comment from : Mo Na

quick question I found a contract that said (Earnest Money) to be deposited with a licensed title company or attorney within 48 hours of acceptance and ratification of offer what is that means?
Comment from : Max Farias

So I wouldn’t have to give 3000 dollars the day that the contract was signed right it’s supposed to go in escrow until COE right?
Comment from : Lamond Don

With a VAno money down Will my earnest money go towards closing cost?
Comment from : Kono H

There is another thing to consider in order to eleminate the finiance contingency, , ask for proof of fund in advance
Comment from : Hyden 35

I have watched couple vids of yours and I got to say I'm quite impressed the way you explain real Estate related topics are really simple and right to the point!! No wonder bigger pocket is always the best with people like you ,, keep it up and many thanks
Comment from : Hyden 35

Quick question Will a 5000 dollar deposit is good for a 600k home ?
Comment from : Mosto y Aceite

Thank you Some „real estate“ agent wants the earnest money deposit here in germany (it is not usual in germany) just for a visit of the property She said we ger ir back, if we decide not to buy Also she wants the emd 3 Percent of the worth of the property (before we even talked about the price) Also she said we should send it to the estate agents bank accountbrbrThis seems all very fishy I was not sure about this emd because we do not have it here in germany Sometimes there is the notary or a lawyer who could storage a first pay for security but not emd
Comment from : UNBEKANNT

Comparing real estate to the mafia and murder? Interesting comparison
Comment from : Steven Brown

Minus forcing your gayness on everyone good information
Comment from : K

Working on my first deal I'm doing an assignment contract with the buyer as well as the seller right? That's my question starting off so I can get into real estate to invest n my neighbor hood to look better and raise the value up
Comment from : Jfrench_ Gutta

What if the buyer is waiting to get a hard money loan, , is that considered a type of contingency as well? If it didnt go thru , will the buyer get the earnest money back? Thanks
Comment from : Hyden 35

Brandon you rock!
Comment from : Marty Summers

How do your assure you won't lose your money if your using a private lender whom you've never used before? Thanks!
Comment from : Marvin R Ward

great shirt! thanks for the video
Comment from : V0007

Can a proof of fund letter be used in place of the earnest deposit?
Comment from : David Andrews

Do I need to put the name of the title company I will be using in the contract for the earnest money ie good faith deposit 1000 paid to Stewart Title or can I put good faith deposit ie 1000 and leave the information blank? brbrHow do I write in the contract for leaving the key? Is it ie seller agrees to leave the key with buyer?
Comment from : Eugene Alexander

GREAT format!! No distractors like Josh Lol! Just kidding It's more focused which I enjoy Maybe add a couple graphics as reference?
Comment from : Mike O

Help me fund my youth group through teaching them about investing: wwwgofundmecom/sustainablescout
Comment from : Bryce Perry

Useful information, annoying background muzak
Comment from : Seth CH

Love it! More single topic videos plz!
Comment from : Juan esparza

Loved the video! I noticed the energy and pacing of the video is slower than the usual, but the information provided is still great!
Comment from : Daniel Lee

Thanks for the video! My husband and I are taking our real estate exam next week we are so excited to start our real estate investing career! Thank you Bigger Pockets for sharing your knowledge with us!
Comment from : elizabethsalinas19