The Earnest money deposit is often overlooked in the negotiation process.

The 'Earnest Money' is the money put forth to show the seller that a buyer is serious about the purchase. This money is put in escrow to be used to pay the closing costs of the buyers settlement costs.

How much is expected for earnest money? It depends. I often say $1,000 because I've never met anyone that wouldn't be hurt by loosing $1,000. There are many other ways to beef up an offer but increasing your earnest money is only one of them!

-Patrick Mace, Realtor w/ Long Foster