What is Earnest Money?

A very good morning to you. Earnest money is an advance payment that bind a contract for the property you are in the process of buying. For existing homes, the amount is typically 1% of the price of the home. For brand new homes, the amount will be determined by each builder. 

As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please give us a call 713.204.8013 or Email us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana