Role of real estate agents and lawyers in managing earnest money

Understanding Earnest Money Deposits and How They Work

Understanding Earnest Money Deposits and How They Work

When you want to buy a house in Nigeria, one important step you must understand is the earnest money deposit. This is a small amount of money you pay to show the seller that you are serious about buying their property. Think of it as a promise or handshake that says, “I really want this house.” Usually, this deposit is about 1% to 5% of the property price, but it can change depending on the market and...

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