In this video, we delve into the critical aspects of earnest money and option fees in real estate deals. Earnest money, a deposit made by the buyer to demonstrate serious intent, is a key component of most purchase agreements. We'll discuss its purpose, typical amounts, and what happens to it in different scenarios.

Additionally, we'll explore the option fee, a sum paid by the buyer for the exclusive right to terminate the contract within a specified timeframe without forfeiting earnest money. Understanding these fees is crucial for both buyers and sellers to navigate real estate transactions smoothly. Whether you're a seasoned investor or a first-time homebuyer, this video provides essential insights into these financial aspects of real estate deals.

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