Earnest Money is the money that is put down to show your seriousness about buying a home. It must be large enough to indicate good faith and usually hovers around 1 – 5 % of the purchase price. If your offer is accepted by the seller, then the earnest money becomes part of your downpayment or closing costs. If the offer is rejected then the money is returned to you. If you back out of a deal, you will have to forfeit the entire amount.

Real Estate Agent at Gupta & Sen
Chloe is a real estate advisor with Gupta & Sen. With a combined experience of over 15 years in varied industries, she is a vocal and knowledgeable ally for buyers and investors who want to make informed choices when buying a property in India. With superlative communication and marketing skills, Chloe handles our PR, real estate marketing strategy and client management.
Chloe Dodd