Earnest money is money put down to demonstrate your seriousness about buying a home. It must be substantial enough to demonstrate good faith and is usually between 1-5% of the purchase price (though the amount can vary with local customs and conditions). If your offer is accepted, the earnest money becomes part of your down payment or closing costs. If the offer is rejected, your money is returned to you. If you back out of a deal, you may forfeit the entire amount.
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Contact Wood Buffalo Housing for more information, or to check the status of your inquiry at 780-799-4050.
Our Leasing Agent can be contacted at 780-598-3689 from 8:30 AM-4:30 PM weekdays.