What is the deposit and who holds it in Folly Beach?

The earnest money deposit is the buyer's good-faith payment showing they intend to complete the purchase, and in a Folly Beach transaction it is typically held by the closing attorney or a title company in a trust account, not by the seller or either agent directly. That third-party holding protects both sides until the deal closes or a contingency releases it. Brian can confirm exactly who holds the deposit on your specific Folly Beach contract.