Tuesday, September 25, 2018 / by John Lidstrom
Whether you’re a buyer or a seller, you're going to be in a transaction, you’re going to be working with Earnest Money Deposits.
Earnest Money Deposits, often called EMD, is one of the first things you are going to encounter, whether a buyer or a seller. This acronym, EMD, is one you are going to see or hear often. Here in the Bremerton/Silverdale area of Kitsap County, we have lots of acronyms flying back and forth between military and real estate brokers. We’ll send an email and say, “hey, your EMD is due” and the buyer has no idea what we’re talking about. So, EMD simply means Earnest Money Deposit.
Earnest Money Deposit; If you're a buyer, this is one of the first things you're going to encounter after your offer is accepted after you have mutual acceptance. What is Earnest Money Deposit? Why do you need it? How does it work?
So, Earnest Money Deposit is simply a good faith deposit that ...