What Is Earnest Money When Buying a Home in Bozeman?

Earnest money is money a buyer provides as part of a purchase contract to demonstrate good-faith intent to complete the transaction.

The amount and handling of earnest money depend on the contract.

JoAnna Kraft is a real estate agent in Bozeman, Montana helping buyers navigate the home-buying process.

Before signing an offer, make sure you understand:

• How much earnest money is required

• When it must be deposited

• Who holds it

• What happens if the transaction closes

• What contract provisions affect its return

• 
  

Because earnest money can be significant, buyers should understand the contract and ask questions before signing.