Now that your offer has been accepted and the contract is executed, it’s time to drop off your first earnest money (EM) check. Typically, the earnest money needs to be delivered within 1 business day after the contract is executed.
Here’s What You Need to Do:
- Check Details We will email you the exact amount for the earnest money check, the name it should be made out to, and where to drop it off. On the “For” line of your check, write: “1st EM check for [insert property address].”
- Prepare the Envelope Place 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.
- Drop Off the Check Typically, the check should be dropped off at the office of the seller’s Realtor. Try to do this during normal business hours so that you can get a receipt. When you arrive, ask the receptionist to provide you with an earnest money receipt and email it to us. Once you have the receipt, seal the envelope and hand it over to the receptionist.
- After-Hours Drop Off If you need to drop it off after hours or if the office is small and doesn’t have a receptionist, look for a drop box near the front door where the earnest money check can be safely left.
- Electronic Payment Option Some brokerages offer an electronic option for paying earnest money. If you prefer to pay electronically, let us know and we can check with the listing agent’s brokerage to see if that’s an option.
Important Reminder:
The earnest money will be deducted from your final down payment and needs to be delivered within 1 business day of contract execution. Once you’ve dropped off the check, please text us to confirm so we can inform the seller’s Realtor.
If you have any questions or concerns, don’t hesitate to reach out!