Understanding Earnest Money: A Crucial Step in Arizona Real Estate Transactions

Earnest money is an important aspect of real estate transactions in Arizona, serving as a show of good faith from the buyer to the seller. It is a deposit made by the buyer to demonstrate their commitment to purchasing a property and to compensate the seller for taking the property off the market. In this article, we will explore the purpose of earnest money, how much it usually is in Arizona, and when it's due.