How to Protect Your Earnest Money Deposit When Buying a Home in Texas

When you’re buying a home, the excitement can be overwhelming — but there’s one step in the process you don’t want to overlook: your Earnest Money Deposit (EMD).

Think of your EMD as a sign of good faith. In Texas, it’s typically about 1% of the purchase price, but it’s negotiable! This deposit tells the seller you’re serious and gets held in an escrow account until closing.

But here’s the thing — if you back out of the deal without the right contingencies in place, you could lose that deposit. That’s why it’s so important to have contingencies like inspection, appraisal, and financing written into your contract. These are your safety nets!

If everything goes smoothly, your EMD gets applied toward your closing costs or down payment. If not, and you’ve done your due diligence, you can get your EMD back.

Bottom line: protect your money by working with an experienced agent (like me!) who knows how to structure your contract to keep your deposit safe.

Need help? I’m here for you. Let’s make your homebuying journey smooth and secure!

Marysol Calvillo Elite Properties

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