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Transaction Terms

Going Hard

The moment earnest money becomes non-refundable, typically at end of due diligence period.

Full Definition

When earnest money 'goes hard,' it transitions from refundable to non-refundable. If the buyer backs out after this point, the seller keeps the earnest money as liquidated damages. Going hard signals buyer commitment to close and is a key negotiating point.

Related Terms

Earnest Money

Deposit paid by buyer to seller at contract signing, typically 1-5% of purchase price. Refundable during due diligence, non-refundable after.

Due Diligence

The investigation period after contract signing, typically 30-90 days, when buyer inspects everything about the property.

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