It is money that a buyer pays at the time their offer is accepted and they put a house under contract. Earnest money is deposited with a third party.Putting together an earnest deposit shows your commitment and good faith to the seller. Due diligence money is a fee that buyers proffer at the time they make an offer on a home. In essence, it is the buyer's good faith payment to the seller. If there is a pending dispute over an EMD, can the seller accept another contract on the same property? The standard NC contract also has a separate amount for earnest money which is not forfeited until due diligence closes. Question: My husband and I attempted to purchase a house in 2005 through our REALTOR®. Earnest money is money that the buyer gives the sellers to show your good faith when making an offer to purchase the seller's property.