Do you need earnest money or deposit money?

Earnest Money Deposit

Sometimes new home buyers forget about the "up front" cash needed when making an offer on a house.  A seller could be suspicious of a written offer that is not accompanied by a deposit to show "good faith".   Customarily in the Lynchburg Va area I would recommend $100 - $1,000.  My brokerage would hold the deposit and it will be come part of the the down payment.  If your offer is not accepted than the earnest money deposit will be refunded to you.

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