What is the purpose of the earnest money deposit in a pending real estate transaction?

Jan 17, 2020 ... When a property is marked as contingent, it means that the buyer has made an offer and the seller has accepted that offer, but the deal is ... Oct 15, 2021 ... But a pending offer almost always means there's an “accepted and binding contract” between buyer and seller, according to real estate agent ... Sep 13, 2023 ... Under contract comes right after a buyer's offer is accepted, while pending sale is the last stage before finalizing a deal. While contracts can ... The term pending house means the buyer and seller have agreed to each other's terms and all contingencies have been met so it's been marked as pending and is ... Apr 20, 2022 ... Unlike contingent definition in real estate, pending meaning real estate simply implies that the particular transaction has no contingencies ... A “contingent” status means the seller has accepted an offer, but the sale is subject to certain conditions (i.e., inspections or financing). · For homes listed ... Mar 9, 2024 ... Pending means a buyer's offer has been accepted by the seller, and all contingencies outlined in the contract have been met. Jan 24, 2025 ... Pending means the house you are looking at has an accepted offer, and contingencies have been removed. This means this house is closer to being finalized and ... Jul 31, 2020 ... When a real estate listing goes from pending to active, it signifies that a previously agreed upon sale has not been finalized, and the property ... Mar 17, 2022 ... — Common contingencies in real estate. — What does pending mean? — How often do contingent and pending offers fall through? — Can you make an ...