Earnest Money Deposit

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This is also available via the app.

If MMG is the holder of earnest money in your contract, this is a convenient way to submit said funds via Earnnest.

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Frequently Asked Questions:

Earnest Money

In a real estate transaction, earnest money is a sum of money paid by the buyer as a show of good faith and commitment to complete the transaction. This amount is typically a percentage of the purchase price, and it is held in escrow by a third party until the transaction is completed or terminated. Earnest money serves as a form of security for the seller, as it provides assurance that the buyer is serious about the transaction and has a financial stake in its success. In the event that the buyer does not complete the transaction as agreed, the seller may be entitled to keep the earnest money. Conversely, if the transaction proceeds as planned, the earnest money is typically applied to the purchase price at closing. Overall, earnest money is an important aspect of real estate transactions that helps to secure the interests of both buyers and sellers.