Earnest money is a payment made by a homebuyer to show to the seller that he or she is serious about buying.
The timing of your earnest money payment is generally stated in your contract. In most cases, earnest money is due simultaneously with, or shortly after, the contract is signed by both buyer and seller.
Typically, earnest money is held by a third party called an “escrow agent” or “escrow holder.” The escrow holder may be a title company, a real estate office, an attorney’s office, or any other party designated in the contract.
In most cases, homebuyers receive credit for their earnest money deposit at time of closing.
Buyers may require manual verification for the following reasons:
Yes, you can provide a check or send a wire. For additional information on these options, please contact us.
At this time, no.
Most buyers will be verified by providing basic information such as: