Real Estate Glossary

What is Earnest Money?

Earnest money is a sum of money that is paid by a buyer to a seller as a show of good faith and as a commitment to purchase a property. Earnest money is also known as a "good faith deposit," and it is typically held in escrow until the closing of the transaction. Earnest money may be applied to the purchase price of the property or to closing costs, and it may be refundable or non-refundable, depending on the terms of the agreement and the circumstances of the sale.

number: 804-656-5007

Monday to Friday - 8:30am - 6:30pm EST

Saturday - 9am - 5pm EST

Agreement to Terms and Privacy Policy: By using beycome.com, you agree to our Terms and Conditions and our Privacy Policy.

Legal Disclaimer: Information is current as of May 14, 2024. Beycome Corp. may modify or discontinue products and benefits without notice. Eligibility and underwriting requirements must be met. No guarantee, warranty, or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition); such should be independently verified, and Beycome expressly disclaims any liability in connection therewith.

Trademark Notice: Logos and trademarks on our website are used to illustrate industry partnerships and do not imply endorsement unless explicitly stated. All trademarks belong to their respective owners, and we comply with trademark laws.

Beycome Family of Companies: Beycome Mortgage LLC provides home loans; Beycome Brokerage Realty LLC, Beycome Brokerage Realty Inc., and Beycome of Florida LLC provide real estate services; Beycome Title of Florida LLC provides title insurance services. These are separate entities under Beycome Corp., each governed by its own management as required by law, but all owned by the same individuals, forming a business relationship.
Beycome Corp. holds real estate brokerage licenses in Multiple States: Beycome of Florida LLC is licensed in FL. Beycome Brokerage Realty Inc is licensed in CA. Beycome of Connecticut in CT. Beycome Brokerage Realty LLC is licensed in AL, GA, IL, IN, MI, MN, NC, SC, TN and TX.
CalDRE #01804683
TREC: Brokerage Services, Consumer Protection Notice

IDX© information is provided exclusively for consumers’ personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate.

Listings Information: Listings information is updated daily. All information provided is deemed reliable but is not guaranteed accurate and should be independently verified.

Broker Compensation is fully negotiable and is not fixed, controlled, recommended, or suggested by law or any multiple listing service or association of REALTORS®.
Beycome fully supports the Equal Housing Opportunity laws.