Is Earnest Money Refundable? When You Can (and Can’t) Get It Back
Redfin
JULY 11, 2025
This good-faith payment, typically 1% to 3% of the purchase price, is held in escrow and applied to your down payment or closing costs if the sale goes through. Buyer is unable to secure financing A financing or mortgage contingency protects buyers if they’re unable to get approved for a home loan.
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