Step 9 to Buying a Home: 1st Earnest Money Check

Buying

Now that your offer has been accepted by the seller and we have an executed contract, it’s time to drop off your 1st earnest money check. Earnest money checks usually need to be dropped off within 2 business days of contract execution. 

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What is Earnest Money?  Click here to read a great article explaining earnest money. 

Look on your offer's 1st page for the exact amount your earnest money (EM) check should be made out for, make check out to your chosen Title Company.  In the “For “line of your check, put “1st EM check for (insert property address).”  Put the check in an envelope, but don’t seal it. On the outside of the envelope write “1st EM check for (insert property address) ” and your name. Generally the check is dropped off at my real estate office.  Try to go during normal business hours to drop it off.  When you get there, ask the agent on duty to put the envelope in my box, if we are not in the office. In addition, please text me after you’ve dropped off the check so I can let the seller’s Realtor know it’s been dropped off. 

If you go after normal business hours and the door are locked, look near the front door to the left for a drop box where earnest money checks can be safely left. 

As a reminder, your earnest money check amount will be deducted from your final down payment and needs to be dropped off within 2 business days after contract execution. 

If you have questions, call or text me at 410-980-5732.