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When Can You Get Your Earnest Money Deposit Back? – Earnest money deposits are usually nonrefundable, but there are times when you can get your There are several reasons why a buyer might back out of a sale. Changes to the buyer’s financial If you can’t get financing for the purchase, you may or may not be able to get your earnest money.
The Tax Deduction Related to Forfeited Earnest Money – Earnest money proves you’re serious about making the purchase. You deposit the money in escrow in return for the seller tentatively accepting your offer. If the seller backs out before closing, you.