10/29/2026
You just sent $5,000 in earnest money... but where does it actually go? 🏠💰
Spoiler: No, the seller doesn’t get a shopping spree!
Earnest money shows the seller you’re serious about your offer, but handling it correctly is crucial to protecting your cash. Here is what you need to know:
🔑 Where does it go? It’s delivered to the designated party named in the contract and safely held until closing or an authorized release.
⏰ Deadlines matter: Missing your delivery deadline can put your entire contract at risk.
💵 At Closing: If the purchase closes, your deposit is generally credited toward what you owe at closing.
🛡️ If things fall apart: Who gets the money depends on the contract terms, deadlines, and the reason the deal ended.
Before writing your next offer, make sure you know:
✔️ How much to deposit
✔️ Who is holding it
✔️ When it’s due
✔️ When it can be refunded
💬 DM me "EARNEST" before you write your offer and let's get your strategy set!