Search Elements:
- Taxonomy
- us-gaap
- Name
- EarnestMoneyDeposits
- Label
- Earnest Money Deposits
- Period Type
- instant
- Balance Type
- debit
- Type
- xbrli:monetaryItemType
- Definition
- A deposit made by a purchaser of real estate to evidence good faith. It is customary for a buyer to give the seller earnest money at the time a sales contract is signed. The earnest money generally is credited to the down payment at closing, which is applied at closing as a component of payment against the purchase price.
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