Earnest Money Explained
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Earnest means serious, sincere, and deeply committed in purpose or effort. Example: He made an earnest promise to help his friend. Her earnest work improved the project. The word comes from the Old English eornost, meaning “seriousness” or “eager intent.” Earnest effort reflects genuine commitment—not just going through the motions. In school, being earnest means focusing during lessons, trying your best on assignments, and meaning what you say. Sincerity builds trust and credibility. When have
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YouTubeJanean Peeler, Your Friend in Real Estate
What is Earnest Money? Earnest money is a good-faith deposit you put down when your offer is accepted. It tells the seller you are serious. But here is what most people don’t realize… That money is not extra. It is not a fee. It gets credited toward your down payment or closing costs at closing. So how much are we talking about? In Washington State, earnest money is typically around one to three percent of the purchase price. On an $800,000 home, that could be anywhere from $8,000 to $24,000. In
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