When an offer to purchase a property is presented, the seller of the property will request the buyer to include a deposit or "earnest money". This will come from the buyer in the form of a personal check, money order, cashier's check or cash. This money is essentially a good faith deposit and represents the buyer's sincerity or "earnestness" in purchasing the property. The earnest money is deposited in a trust account of the listing real estate company or an Escrow account and not turned over to the seller. The earnest money will be applied toward the purchase price or down payment at closing. The money is refundable if the contract is not accepted, or if conditions of the contract are not satisfied.

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