what is emd in real estate
Best answer
Earnest Money Deposit
People also ask
Why do sellers ask for EMD in real estate?
EMD in Real Estate: Why do Sellers Ask for It, Who Keeps It? An earnest money deposit (EMD) in real estate is money that you put down with a contract. It is good a good faith deposit that shows the seller you are serious about closing the transaction. This is an important gesture from the buyer that will make the home sale process smoother.
Is EMD in real estate refundable?
EMD in Real Estate Refundable Earnest money is refundable under certain conditions. You cannot just walk away from a signed contract without penalties, but there are contingencies that protect you from a bad investment.
What is an earnest money deposit (EMD) in real estate?
An earnest money deposit (EMD) in real estate is money that you put down with a contract. It is good a good faith deposit that shows the seller you are serious about closing the transaction. This is an important gesture from the buyer that will make the home sale process smoother.
Who is the EMD held by in a contract?
The EMD is held by the escrow agent, named in the contract. The real estate broker or the settlement agent can act as your escrow agent.