Step 8: Drop Off Your Earnest Money Check

Now that your offer has been accepted by the seller and we have an executed contract, it’s time to drop off your earnest money check. Earnest money checks usually need to be dropped off within 1 business day of contract execution. So, what is earnest money? Earnest money is put down before closing on a house to show you're serious about purchasing. It's also known as a good faith deposit. This amount is applied to your final closing amount as a credit towards your closing costs. 

We will email you exactly how much your earnest money check should be made out for, who it should be made out to, and where it should be dropped off. In the “For “line of your check, put “EM for (insert property address).”  Put the check in an envelope, but don’t seal it. On the outside of the envelope write " EM check for (insert property address) ” and your name. Generally, the check is dropped off at the closing title office. Try to go during normal business hours to drop it off as you’ll need to get a receipt. When you get there, ask the receptionist to give you an earnest money receipt which you then need to email us a copy of. In addition, please text us after you’ve dropped off the check so we can let the seller’s Realtor know it’s been dropped off.

Most title companies have an electronic wire option for paying the earnest money. If you'd like to pay it electronically let us know and we will get instructions to you. 

As a reminder, your earnest money check amount will be deducted from your final down payment and needs to be dropped off within 1 business day after contract execution.

If you have questions, make sure you reach out!