Document background
The Earnest Money Agreement serves as a crucial document in Danish property transactions, providing security and commitment for both parties during the period between initial agreement and final closing. This document type is typically used when a buyer wishes to demonstrate serious intent to purchase a property by providing a good faith deposit. The agreement outlines the specific conditions under which the earnest money will be held, returned, or forfeited, aligned with Danish property law and contractual requirements. It includes essential details such as property description, purchase price, deposit amount, due diligence period, and closing conditions. The document is particularly important in the Danish real estate market, where it helps prevent either party from backing out of the transaction without valid cause, while providing clear procedures for dispute resolution and transaction completion.
