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Earnest Money Deposits in washington state: 5 faqs. november 17, 2016;. So, if all goes well and your offer is accepted by the seller, the amount you paid in earnest money will go toward the down payment and closing costs (in most cases). So it becomes part of your real estate investment.
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Can you use earnest money towards closing costs or down payment? – Anonymous wrote:We have put $15,000 as earnest money deposit (EMD) and we are moving towards closing in about a couple of weeks.The EMD is being held by our realtor’s company (buyer agent). Since on the day of closing we are required to have the down payment and the closing costs in the form of a certified check (or something of that sort), is there any way to use the EMD towards this payment?
Earnest money funds are usually applied to a loan's closing costs or to the down payment. Since VA loans don't require a down payment and.
Question about earnest money | Yahoo Answers – The earnest money definitely does count towards you down payment. I am licensed in Virginia, but this rule is not just for Virginia.This item is the same in all states. Good luck!
HOW DOES AN EARNEST MONEY DEPOSIT WORK? – The gist of it is that it’s very rare for a homeowner to accept an offer without a deposit-that’s earnest money, and if the sale goes through as planned, it will apply toward your down payment or closing costs.
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