Earnest Money Is the Sum of Money the Home Buyer

question 59

Multiple Choice

Earnest money is the sum of money the home buyer pledges with the:

• A) lender to guarantee the purchase.
• B) seller to indicate the intent to purchase.
• C) realtor for finding the desired home within a preset budget.
• D) lender to originate the loan.
• E) financial institution to prequalify for a mortgage loan.

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Definitions:

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