http://EliMagids.com Charlotte NC Real Estate,Realtors Charlotte NC,Charlotte Real Estate,Earnest Money Charlotte Real Estate Broker Eli Magids discusses the term earnest money,and what it means in the offer to purchase contract. For Buyers, it is a good faith deposit,that is held in escrow and will go towards the purchase price of the home at closing.It is not refundable unless the seller does not/or cannot go through with the sale of the property. For sellers,this is the money you will receive if the buyer fails to complete the contract. No other damages are allowed. Eli doesn't think that is really fair. Eli is keepin it real! Charlotte NC Real Estate, Realtors Charlotte NC, Charlotte Real Estate, Earnest Money