09/30/2026
Handing a stranger a $9,000 check is a strange way to say "I'm serious about your house."
That's earnest money. And the question I hear most from buyers is: can I lose it?
Yes, you can. But most buyers who lose it do it the same way. They miss a deadline.
The quick version for Chesterfield and Midlothian buyers:
How much: Virginia law doesn't set an amount. Here, I usually see 1% to 3% of the price. On a $450,000 home, that's $4,500 to $13,500.
Who holds it: usually the settlement company, not the seller.
When it's due: typically 5 to 7 days after your contract is ratified.
How you get it back: cancel inside a contingency (inspection, financing, appraisal, or HOA documents), on time and in writing.
One more thing, and it's a big one. Before you wire a single dollar, call the settlement company at a number you already know. Scammers send fake "updated wiring instructions" emails that look exactly like the real thing. 🚩
I wrote the full guide, including what happens when the buyer and seller both want the money, and the 5 mistakes that cost buyers their deposit. Link in the comments.
Writing an offer soon? Send me the house first. I'll walk you through every date that protects your deposit.
Christine Case | REALTOR® | NextHome Advantage