Escrow & Title
At a South Carolina closing, the buyer's earnest money is typically:
ARefunded to the buyer
BCredited toward the buyer's closing costs or down payment✓ Correct
CPaid directly to the listing agent
DHeld in escrow until after the first mortgage payment
Explanation
Earnest money is credited toward the buyer's closing costs or down payment at closing. It represents a portion of the total funds the buyer needs to bring to closing.
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