Costs & fees
Earnest money
In short
Earnest money is a good-faith deposit made when your offer is accepted, held in escrow and applied to your costs at closing. It shows a seller you're serious.
Earnest money is a deposit a buyer puts down when a purchase contract is signed, showing the seller a genuine commitment. It's held by a neutral third party — often a title company or broker's escrow account — not paid to the seller directly.
At closing, earnest money is credited toward your down payment and closing costs, so it isn't an extra cost, just an earlier one. If the deal falls through, whether you get it back depends on the contract's contingencies.
In Florida the amount and the contingencies are set in the contract, so understanding those terms before you sign is what protects the deposit.
Related
Current as of August 2026.