Earnest payment

A sum of money given by a buyer to a seller to demonstrate serious intent to purchase a property. This payment is held in escrow and applied to the down payment or closing costs if the sale is completed, but may be forfeited if the buyer withdraws from the deal. Earnest payments are primarily used in real estate transactions to show commitment and secure the property during the negotiation process.

Earnest payment was discovered on December 27th 2020 and it currently has a search volume of 720 with a growth of +51%.