{"id":7735,"date":"2023-03-23T13:30:11","date_gmt":"2023-03-23T18:30:11","guid":{"rendered":"https:\/\/www.morty.com\/resources\/?page_id=7735"},"modified":"2023-04-10T12:20:08","modified_gmt":"2023-04-10T17:20:08","slug":"earnest-money-deposit","status":"publish","type":"page","link":"https:\/\/www.morty.com\/resources\/mortgage-manual\/assets\/earnest-money-deposit","title":{"rendered":"Earnest Money Deposit"},"content":{"rendered":"\n
\n

Earnest Money Deposit<\/h1>\n\n\n\n

An overview of what earnest money deposits (EMD) are and what we may need from you if you have one<\/strong>.<\/h4>\n<\/div><\/div><\/div>\n\n\n\n
\n
<\/div>\n\n\n
Resources<\/a><\/span> > Mortgage Manual<\/a><\/span> > Assets<\/a><\/span> > Earnest Money Deposit<\/span><\/span><\/div>\n\n\n
<\/div>\n<\/div><\/div><\/div>\n\n\n\n

Earnest Money Deposits (EMD), also known as Good Faith Deposits, are contractually agreed upon sums of money that homebuyers typically give to sellers to demonstrate their serious intentions to purchase the property. This is typically part of negotiations and is paid within a week of signing your contract with the seller. The EMD is typically applied as a credit towards your down payment to the seller. If you paid an EMD, we will need proof of the transfer of these funds to the escrow agent.<\/p><\/div><\/div>\n\n\n\n

Do I have to prove I paid an EMD?<\/h2>\n\n\n\n