Earnest Money: How Much and How It’s Protected
What earnest money is, how much to offer in Northern Virginia, and how your contingencies protect it.
What it is
Earnest money is a good-faith deposit that shows the seller you’re serious. It’s typically 1–3% of the price in Northern Virginia, held in escrow, and applied to your down payment and closing costs at settlement — it’s not an extra cost.
How much to offer
In a competitive situation, stronger earnest money can help your offer stand out. In a calmer market, 1% is often fine. It’s a lever we set deliberately based on the specific listing.
Is it at risk?
Your contingencies protect it. If you cancel for a reason your contract allows — a failed inspection, financing, or appraisal within the agreed windows — you generally get it back. Waiving contingencies to win puts more of it at risk, which is a strategy decision, not a default.
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Educational information only — not legal, tax, or lending advice. Figures are typical ranges, not quotes or approvals. Confirm specifics with a licensed lender or attorney.