What is earnest money and why does it matter?
A payment to show the home seller that the homebuyer is sincere about buying.
Typically, earnest money is held by a third party escrow holder. In this case, First Alliance Title is the party designated in the contract.
The timing of your payment is generally stated in your contract. In most cases, earnest money is due simultaneously with, or shortly after, the contract is signed by both buyer and seller.
In most cases, homebuyers receive credit for their earnest money deposit at time of closing.
