Real Estate Terms Defined: Ernest Money Deposit | Custom Fit Real Estate Group

Kris Krebs covers the term Earnest Money Deposit for this video installment of our Custom Fit Real Estate Terms Defined Series. __________________________________ The official FTC definition of Earnest Money Deposit (EMD) is: "The deposit to show that you're committed to buying the home. The deposit usually will not be refunded to you after the seller accepts your offer, unless on of the sales contract contingencies is not fulfilled." Breaking this down: EMD is the money you give to your title company to let them know that you're a serious buyer. You only get this money back if the Sellers do not meet their obligations of the contract. __________________________________ Let us know if there are other real estate terms that you don't quite understand! We're happy to help break it down so that real estate can be easier for you. __________________________________ Be sure to watch these great informative videos! Terms Defined: Escrow -    • Real Estate Terms Defined: Escrow | C...   Terms Defined Broker -    • Real Estate Terms Defined: Broker | C...   Why Are People Moving To Las Vegas? -    • Why Are People Moving To Las Vegas? |...   __________________________________ Custom Fit Real Estate Group is a real estate team of 20 real estate professionals in Las Vegas, Nevada. We service clients in and around the Las Vegas Valley including Henderson, Summerlin, and North Las Vegas. __________________________________ STAY CONNECTED Subscribe to our YouTube Channel: https://www.youtube.com/channel/UC-h3... Follow us on Instagram:   / customfitre   Follow us on Facebook:   / customfitre   Learn more on our Blog: https://www.simplehomesearch.com/blog/ __________________________________ Thank you for taking the time to watch our video! Custom Fit Real Estate | B.1002644.LLC #RealEstateTerms #TermsDefined #RealEstate #customfitrealestate