Earnest Money --> Down Payment

[Anthony Simboli]

All,

I would like some clarification on earnest money. Being told that our earnest money will go towards our down payment and held in escrow until the P&S is signed. I've heard that MOST of the time you get your earnest money back if you back out of a deal. I am having trouble understanding when those few situations that you do not get your earnest money back.

Thank you