Step 6: Deposit Earnest Money (Initial Deposit)
Once we've found the house you'll call home and you're ready to make an offer, providing the Deposit of Earnest Money (also called the Initial Deposit or Good Faith Deposit) signals to everyone that you are ready to move forward. This step lets the seller know you're serious about their property and indicates to all parties the beginning of the purchase process.
This step can be done before the offer is officially submitted, at time of offer, or within 72 hours after the contract is accepted. These monies are returned to the Buyer if the transaction is cancelled and/or can be rolled over to a future offer.
Checks are made payable to "BHHSNJ" and delivered to Berkshire Hathaway HomeServices NJP, 538 Bloomfield Avenue, Verona, NJ 07044.