When you buy a home for sale in Port Aransas, you’ll have to put down an earnest money deposit to show the seller you’re serious about buying – but when does that check get cashed, and what happens to the money?
When Does Your Earnest Money Check Get Cashed?
Your earnest money check will sit in escrow – and nobody’s allowed to use it – until closing day.
What Happens to Your Earnest Money?
On closing day, your earnest money deposit goes toward your down payment or your closing costs.
Are You Buying a Home in Port Aransas or on North Padre Island?
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