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Hi what is earnest money in Texas when buying a home earnest money is basically your deposit or good faith to the cellar while at home is in pending status and that with the intent that you do plan on purchasing me home earnest money is different than down payment down payment which comes at the time of closing it's also important to keep in mind earnest money is different than the option fee what gives you the right to terminate for any reason during that given amount of time earnest money depends on the specific terms of the contract the amount is typically one percent but it can vary it is negotiable of course but whether that earnest money is returned for a given situation or if the seller receives it is very important to understand your contract so give us a call when the time comes we're here to explain it and walk you through the process completely go home si.com continue to feel free to search all homes fell for sale and please let us know if you have any questions thanks talk to you soon.

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