What is earnest money, and do I get it back?
Earnest money is a 'good faith' deposit you put down when your offer is accepted, showing you're serious. It's credited toward your costs at closing. You typically get it back if you cancel within your contract's contingencies.
Earnest money is a deposit — often 1% to 3% of the price — that you put into escrow when your offer is accepted to show the seller you're serious. It's not an extra fee; it gets credited toward your down payment or closing costs at closing.
Whether you get it back if the deal falls apart depends on your contract's contingencies. If you cancel for a reason your contract protects — like the inspection or financing — you typically get it back. If you simply walk away outside those windows, you can risk losing it. This is exactly the kind of thing I watch closely so your deposit stays protected.
This answer is general education, not legal, tax, or financial advice. Your situation is unique — let's talk through the specifics together.