Process & Closing
What is earnest money and how much do I need?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Earnest money is a good-faith deposit you put up when your offer is accepted, showing you're serious. In Florida it's typically 1% to 3% of the price, held in escrow and credited at closing.
With your contingencies intact, it's refundable if the deal falls through for a covered reason. We'll advise an amount that's competitive yet protected by your contract terms.
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