Search Results for "“Good Faith” Payment"

What Is Earnest Money in a Land Auction? How Much Do You Need for the “Good Faith” Payment?

Ranch and Farm Auction Articles

The auctioneer chants. Bidders battle in a flurry of head nods, bidder numbers, and adrenaline-spiking bid confirmations from the auction ringman. As the number rises, more bidders fall off, until eventually, it’s just you. Your final bid wins the property, and soon, it’ll start the closing process and transfer ownership of a beautiful farm. But first — the earnest money deposit.

Published on 2026-06-25