Jan 08 , 2016

Tampa School of Real Estate

Earnest Money

Definition: The cash deposit paid by a prospective buyer of real property as evidence of good-faith intention to complete the transaction.  Also called a good-faith deposit or binder deposit.

Pronunciation:  \ˈər-nəst\  \ˈmə-nē\

Used in a Sentence:   We gave the agent an earnest money deposit to show our interest in the property.