What action must a buyer take to secure a property that they want to purchase?

To secure a property that a buyer wants to purchase, making an earnest money deposit is a crucial step. This deposit demonstrates the buyer's serious intent to complete the transaction and shows good faith to the seller. It typically accompanies the offer to purchase and serves as a financial commitment indicating that the buyer is willing to put down a portion of the purchase price as a sign of their dedication to the deal. This earnest money is usually held in escrow and can be applied toward the buyer's closing costs or down payment at settlement.

While filing a claim with property management, scheduling a home appraisal, or submitting a rental application may be relevant to other real estate transactions, they do not serve the same purpose in the context of securing a property for purchase. The earnest money deposit is specifically tied to the buying process and is essential in real estate transactions to help facilitate trust and commitment between the buyer and the seller.