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The money
A good-faith deposit submitted with your offer, held in escrow, and credited back to you at closing — protected by your contract's contingencies.
When a seller accepts your offer, they take the home off the market on your word. The earnest-money deposit backs that word with money — typically held by the title company or brokerage in escrow, not handed to the seller.
If the sale closes, it becomes part of your cash to close — you don't lose it, you've pre-paid it. If the sale fails in a way your contingencies cover (inspection, appraisal, financing), the contract returns it to you. If you walk away outside your contingencies, the seller can generally keep it.
That is why contingencies and deadlines matter more than the deposit's size — the contract language decides who gets this money in every scenario. Read it with your agent before you sign, not after something goes wrong.
Source: CFPB — Buying a House (official guide)
Who confirms it for you: Your agent — the amount and terms are set in your purchase contract.
Educational, not advice — and never an eligibility determination. Program rules and loan requirements change; the cited source and the named confirmer are the authorities for your case.