From the inbox: what is earnest money?

Good question!  Simply put, earnest money is your deposit on a home.  (See: The Earnest Money Deposit)  When you make an offer on a home, the seller will often require earnest money to ensure you are a committed borrower.  This can range from $1 – 1% of the purchase price of the home.   Often, you can get this money back at closing, too (though that’s subject to negotiation between you and your lender!).

Looking to buy or sell in Colorado Springs or Denver?  We’d be honored to earn your business!  Call 719-440-6626!