What is an earnest money contract?

Earnest Money Contract

What is an earnest money contract?

An earnest money contract is the most common form of real estate purchase contract in Texas. When using an earnest money contract, a buyer agrees to deposit a small percentage of the sales price with a title company to be held until closing as a sign of their good faith intentions to purchase a home or other real estate. The amount of the earnest money deposit is negotiable between the buyer and seller.

For questions and answers on Texas real estate see our Buyers FAQ and Sellers FAQ

What is an earnest money contract? is a post from: Houston Real Estate

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Houston Real Estate Blog by Kevan Pewitt of Houston Prime Realty. Your local Realtor in Houston Texas, offering the current information on Houston real estate, local events, dining, and other happenings in the Greater Houston, Texas area.