earnest money in Dogri डोगरी
earnest money in English
- earnest money⇄earnest money
money paid as a pledge.
Ex. The couple paid five thousand dollars earnest money on the house.
earnest money in Hindi हिन्दी
earnest money in Marathi मराठी
earnest money in Sindhi سنڌي
Earnest Money
Part of Speech
Noun
Pronunciation
IPA: /ˈɜrnɪst ˈmʌni/
Phonetic: ur-nist muh-nee
Definitions
- A deposit made by a buyer to demonstrate their serious intent to complete a transaction, often in real estate.
- An advance payment to secure a contract or deal, showing commitment to the agreement.
Usage Examples
- The buyer paid earnest money to secure the apartment.
- Without earnest money, the seller refused to proceed with negotiations.
Etymology
Derived from Middle English "er(n)est," meaning a pledge or payment made to confirm a bargain, ultimately from Old English "eornest" for seriousness.
Synonyms
- Advance payment
- Security deposit
- Good faith deposit
- Initial payment
Antonyms
- Balance payment
- Final payment
- Refund
Translations
| Language | Translation | Pronunciation |
|---|---|---|
| Spanish | Dinero de garantía | dee-neh-ro de ga-ran-tee-a |
| French | Acompte | a-kompt |
| German | Handgeld | hant-gelt |
| Mandarin | 订金 | dìng jīn |
| Hindi | बयाना राशि | bayana rashi |
| Arabic | مبلغ جدية | mablagh jiddiyah |
| Russian | Задаток | za-da-tok |
| Japanese | 手付金 | tetsuke kin |
| Portuguese | Sinal | si-nal |
| Italian | Caparra | ka-par-ra |
| Korean | 계약금 | gye-yak-geum |
| Bengali | অগ্রিম টাকা | ogrim taka |
| Telugu | అడ్వాన్స్ డబ్బు | advaans dabbu |
| Marathi | अग्रिम रक्कम | agrim rakkam |
| Gujarati | આગાઉની રકમ | aagavni rakam |
| Tamil | முன்பணம் | munpanam |
| Urdu | بیعانہ رقم | bayana raqam |
| Malayalam | അഗ്രഗണം | agraganam |
Regional Pronunciation Variations
In American English, "earnest" has a more pronounced 'r' sound, while in British English, the 'r' sound is softer and more subtle.
Historical Usage
In medieval times, earnest money was a token payment to confirm a verbal agreement, particularly in land transactions.
Cultural Nuances
In some cultures, paying earnest money is considered a sign of trustworthiness and good faith, while in others, it is a formal legal requirement.
More Information
Earnest money is commonly used in real estate transactions to signal the buyer's commitment to the purchase. The deposit is typically held in an escrow account until the contract is finalized or the deal falls through. If the buyer defaults, the seller may keep the earnest money as compensation. However, if the deal proceeds, the amount is usually applied toward the purchase price.
While the practice is widely recognized in many countries, the amount and terms governing earnest money deposits can vary significantly depending on legal systems and local customs. It serves as a financial safeguard for sellers and demonstrates the buyer's serious intent.