Earnest money is a good-faith deposit you put down when your offer is accepted — it shows the seller you’re serious.
It’s typically held by a title company or escrow holder (not pocketed by the seller on day one) and is credited toward your cash to close if the deal finishes.
Can you lose it?
It depends on the contract and why the deal ends. If you terminate within valid contingency rights (for example, during an agreed option/inspection window), you may recover it under the contract terms. If you default outside those rights, the seller may have a claim to it.
How much is enough?
There’s no single number for every OKC metro home. The right amount signals strength for the price point without stretching you uncomfortably before closing.
Next step
Schedule a consult before you write an offer so earnest money, option period, and price work together.