What happens to the 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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