earnest money deposit: What does EMD stand for? - 05/12/12 11:51 AM
Recently, I was asked what is an EMD?  And once again I am reminded that we as professional Realtors are familiar with these acronyms, but most consumers have no clue.EMD stands for Earnest Money Deposit.  What is this Earnest Money Deposit?  An Earnest Money Deposit is a sum of money that accompanies an offer.  This amount illustrates to the seller a buyer's good faith or how serious you are as a buyer, or how much skin are you willing to put in the game initially to get this particular home.  In ancient times, the earnest payment was called an earnest penny, … (3 comments)

 

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