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2. Option fee - Wikipedia

   en.wikipedia.org/wiki/Option_fee

   Earnest money is either paid to the seller or refunded to a potential buyer, depending on a number of factors. The termination option gives a potential buyer time to fully evaluate the condition of the property and perhaps renegotiate the initial offer based on inspections , needed repairs, or other considerations.

3. Earnest payment - Wikipedia

   en.wikipedia.org/wiki/Earnest_payment

   An earnest payment or earnest money is a specific form of security deposit made in some major transactions such as real estate dealings or required by some official procurement processes to demonstrate that the applicant is serious and willing to demonstrate an earnest of good faith about wanting to complete the transaction. [1]

4. Real estate contract - Wikipedia

   en.wikipedia.org/wiki/Real_estate_contract

   Although money is the most common consideration, it is not a required element to have a valid real estate contract. An earnest money deposit from the buyer(s) customarily accompanies an offer to buy real estate and the deposit is held by a third party, like a title company, attorney or sometimes the seller. The amount, a small fraction of the ...

5. What Is Earnest Money? - AOL

   www.aol.com/news/earnest-money-134502821.html

   Earnest money is a "good faith" deposit the homebuyer provides with an offer, to show the seller an intent to follow through on a home purchase. The funds are typically held in an escrow account ...

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7. Security deposit - Wikipedia

   en.wikipedia.org/wiki/Security_deposit

   On the other hand, the party making an advance payment retains no right to insist upon the return of the funds as long as the recipient fulfills the contractual agreement. [3] The security deposits required by many residential landlords of their tenants are the source of much dispute and litigation. Many states and municipalities have enacted ...