explain please
2007-10-11 19:18:58 · 5 answers · asked by toenail 2 in Business & Finance ➔ Renting & Real Estate
It is the money you put down to prove that you are intersted in buying the home. It may be refundable or nonrefundable, depending on the agreement.
2007-10-11 19:28:06 · answer #1 · answered by PEGGY S 7 · 2⤊ 0⤋
Its a deposit tp0 be paid by all interested bidders in a Tender or an auction etc.
This is primarily intended to keep out the frivolous and no-serious bidders who dont have the financial wherewithals and they are just out to create some nuisance.
2007-10-11 20:52:39 · answer #2 · answered by Raghav 3 · 0⤊ 0⤋
when you bid for something you have to deposit certain amount as prescribed by the Auctioneer or seller to shoe your seriousness in the deal.If u are a success full bidder and back up on your commitment you will loose the earnest deposit what you have paid.
2007-10-11 19:48:39 · answer #3 · answered by rajendra p 4 · 0⤊ 0⤋
Earnest money is a deposit/downpayment you make on a purchase to show you are serious about buying the object.
2007-10-12 03:24:17 · answer #4 · answered by Debdeb 7 · 1⤊ 0⤋
fancy way of saying deposit
2007-10-12 00:51:48 · answer #5 · answered by Anonymous · 2⤊ 0⤋