What is Earnest Money Deposit (EMD)?
By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Earnest Money Deposit (or EMD) means you are putting some money forward when you write a contract to purchase a home. When a home is listed in the Las Vegas MLS, the amount the seller is requesting is on the listing sheet. Everything in real estate is negotiable but you want to try to get as close to the seller’s number – when you are writing an offer on a Las Vegas Home – as possible. The check is presented with the offer but is not cashed (generally) until an offer is accepted and fully executed (both buyers and sellers have signed agreements.) I have to sign that the check is in my possession on the board offer so I cannot submit the offer without your EMD check or I could be subject to a fine by the real estate division. There are alternatives that I can sign on to submit an off...