How to make an Offer to Purchase
Earnest money

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When you submit an offer, you should be prepared to make a deposit. This deposit is often referred to as “earnest money.” It’s given to the real estate agent to be held in an escrow account as a show of good faith on your part that you are sincere about your offer.

If the sale goes through, the amount of earnest money you put down will be deducted from the amount you owe the seller at closing. If the seller rejects your offer, or the sale falls through because one of your contingencies is not satisfied, your earnest money should be returned.