10/27/2026
Here’s something that might give you a fright! 👻
Did you know that when a title company holds earnest money, the rules for releasing those funds may differ from when a Realtor’s brokerage holds them?
THE SPOOKY TRUTH:
Section 12.3 of the updated Columbus REALTORS® Purchase Contract addresses third-party earnest money deposits and requires the parties to sign the title company’s escrow agreement.
WHY DOES THIS MATTER?
If a deal falls out of contract, don’t assume the earnest money automatically goes back to the buyer or gets released to the seller! The title company must follow the applicable escrow agreement and legal requirements.
Avoid a scary surprise! Know who’s holding the funds and consult Search2Close before agreeing to non-refundable earnest money. Different agreements can offer different layers of protection.
Because the only thing that should disappear this Halloween is the candy… NOT your earnest money! 🍬🎃