4,720,683
In my area of California this is quite common as the initial deposit is "handled" within the purchase agreement and then applied after acceptance as outlined.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Abby Stiller
Cape Coral, FL
-
Dan & Laurie Pittsenba...
Bellingham, WA
-
Debe Maxwell, CRS
Charlotte, NC
-
Praful Thakkar
Burlington, MA
-
Peter Testa
Danbury, CT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Richard Weeks
Dallas, TX
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Pete Xavier
Pacific Palisades, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
1,749,377
We do all the time. The earnest money deposit is due as set forth in the purchase offer. Ours defaults to 3 days upon a contract. Now deposits are wired into the escrow company.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Debe Maxwell, CRS
Charlotte, NC
-
Praful Thakkar
Burlington, MA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Pete Xavier
Pacific Palisades, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
1,097,255
Sure! Our Contract provisions the form of deposit. It's usually a WIRE. Deposited within [usually 24 business hours] of signed deal, or in breach.
Plus, Millenials (and lately me) don't do checks any more.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Dan & Laurie Pittsenba...
Bellingham, WA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Praful Thakkar
Burlington, MA
-
Lyn Sims
Schaumburg, IL
-
Peter Testa
Danbury, CT
-
Richard Weeks
Dallas, TX
-
Michael Jacobs
Pasadena, CA
1,253,254
Praful Thakkar
I make it clear that a good faith deposit check, or facsimile of same, accompanies the offer. The offer will not be presented without it.
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Debe Maxwell, CRS
Charlotte, NC
-
Praful Thakkar
Burlington, MA
-
Peter Testa
Danbury, CT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Richard Weeks
Dallas, TX
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
2,510,468
More often then not in our MLS Praful Thakkar .
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Abby Stiller
Cape Coral, FL
-
Debe Maxwell, CRS
Charlotte, NC
-
Praful Thakkar
Burlington, MA
-
Peter Testa
Danbury, CT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Richard Weeks
Dallas, TX
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Doug Dawes
Topsfield, MA
5,286,686
In North Carolina we can... when the earnest money is provided is a negotiated time frame and often not provided till several days after the execution of the contract.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Bob "RealMan" Timm
Minot, ND
-
Praful Thakkar
Burlington, MA
-
Peter Testa
Danbury, CT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Richard Weeks
Dallas, TX
-
Michael Jacobs
Pasadena, CA
-
Pete Xavier
Pacific Palisades, CA
3,654,438
If an agent is insisting on a copy of earest check they'll be out of luck in my world. I honestly can't reemember how long ago it's been since I ever took one of those.....years. Everything is wired direct to escrow after acceptance. And it's all spelled out in the contract. Easy peasy
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Abby Stiller
Cape Coral, FL
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Nina Hollander, Broker
Charlotte, NC
613,494
The promise to pay is the consideration and an actual check is not required. Look it up.
However, I do realize that the majority of agents don't know that and have bigger security in a paper check that may bounce.
My clients wire in money, but not before a meeting of the minds...
Eve
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Pete Xavier
Pacific Palisades, CA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Nina Hollander, Broker
Charlotte, NC
3,421,221
What's a deposit check?
Have not used that in years!
Funds are wired. We present offers with proof of funds.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Lyn Sims
Schaumburg, IL
-
Anna "Banana" Kruchten
Phoenix, AZ
2,245,607
This practice might be State Specific ?
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Debe Maxwell, CRS
Charlotte, NC
-
Praful Thakkar
Burlington, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
5,473,591
Yes, in fact, in NC we are not gathering copies of the checks any longer - it's a privacy issue for the buyers.
Our Contract also has an option to provide the EMD within 5 days of the effective date of the Contract.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Peter Testa
Danbury, CT
-
Michael Jacobs
Pasadena, CA
-
Abby Stiller
Cape Coral, FL
-
Bob "RealMan" Timm
Minot, ND
673,321
The vast majority of my transactions are done with no earnest money, but when in play EM to be provided within (time frame) of execution or transaction is null and void.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Pete Xavier
Pacific Palisades, CA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
1,868,978
hey, we do it here all the time. EM due in 3 business days after acceptance. No copy of anything - that's how we write it into the contract.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Nina Hollander, Broker
Charlotte, NC
637,534
Since many of my transactions are cash in this high end community, I often include the proof of funds with the offer. I don't handle checks; EMD goes directly to escrow.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Nina Hollander, Broker
Charlotte, NC
776,425
Here it's expected that you include a copy of the deposit check. I'd ask for it if it wasn't included.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Nina Hollander, Broker
Charlotte, NC
5,094,006
In Texas it is not a requirement.
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Nina Hollander, Broker
Charlotte, NC
-
Kathleen Daniels, Prob...
San Jose, CA
5,774,095
Praful,
Michael Jacobs and Sandy Padula and Norm Padula, JD, GRI have the CA version. A
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Bob "RealMan" Timm
Minot, ND
-
Nina Hollander, Broker
Charlotte, NC
-
Sandy Padula & Norm Pa...
, CA
-
Michael Jacobs
Pasadena, CA
5,584,328
maybe I'm Old School, but there should be "consideration" accompanying the offer to purchase....even a copy of a check is just fine....
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Praful Thakkar
Burlington, MA
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
1,598,552
Praful.
Exactly, everything is changed a lot. No old school anymore.
-
John Juarez
Fremont, CA
-
Peter Testa
Danbury, CT
-
Valeria Mola
Sunny Isles Beach, FL
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Abby Stiller
Cape Coral, FL
6,660,464
We never do, ours says that we will provide EM within a certain number of days of acceptance.
-
Bob Crane
Stevens Point, WI
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
652,192
I think the "offer itself" along with "evidence of ability to perform" (i.e. bank statement for funds to close, pre-approval letter for remaining funds) should be the initial priority. The final RPA should then contain a short timeline for the Buyer to wire/deposit their EMD to Escrow from there.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
8,122,818
Use money orders.
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Abby Stiller
Cape Coral, FL
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
1,713,581
Happens all the time in this digital workld.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
820,278
Here is not a requirement. Buyer has usually 3 days to send the escrow deposit to the title company.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
681,339
Praful ~ Our contract here in Northern VA now has boxes to say whether the check has been delivered "or will be delivered" and a space for how many days until the deposit will be delivered. Most brokerages no longer want to hold the EMD, so most times it is sent to the Title company that the buyer has selected.
Three to four years ago this was never the case...
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
931,198
Yes. Copies of checks doesn't mean the buyer currently has the stated amount of funds in their account anyway. Our contracts allow for an agreed amount of days for buyer to produce EMD if offer is accepted. Usually 2-3+ days.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
1,393,433
It's not necessary to make a deposit at all, so it's certainly possible to present an offer without the check.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
1,311,927
Remind the listing agent about protecting your buyer's banking account information when he insists on seeing a deposit check along with the offer. He just needs to present the offer, and make arrangements later to have the checks FedX to Title Escrow.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
469,575
In our area I would simply highlight the paragraph in our PSA that states that EM is not due until 2 days after mutual acceptance.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
1,762,704
We don't even send copies of checks any longer. We send an acknowledgement that we have the check, but that's all. We don't even require the check until seven days after ratification.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
1,535,124
Oh Lord, it's been decades since we've seen an offer with a copy of a deposit check! Our contracts don't require it. Proof of funds in the bank is all that comes with offers.
-
John Juarez
Fremont, CA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
2,182,739
Our offers provide the option to submit the deposit within a certain amount of time to the escrow holder, therefore, quite often no deposit checks are written at offer time. Upon acceptance, buyers make deposit directly with escrow company.
-
John Juarez
Fremont, CA
-
Bob "RealMan" Timm
Minot, ND
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
5,458,048
In the age of the electronic world, checks are a thing of the past!
-
John Juarez
Fremont, CA
-
Bob "RealMan" Timm
Minot, ND
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
5,155,149
I can't recall the last time I saw a request for a copy of the deposit check with an offer
-
John Juarez
Fremont, CA
-
Bob "RealMan" Timm
Minot, ND
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
2,071,135
Upon acceptance - yes.
-
Peter Testa
Danbury, CT
-
Bob "RealMan" Timm
Minot, ND
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
3,416,322
Recently I wrote a check from my account after the buyer electronically transferred money into my account. I sent the offer with copy of my business check. It was accepted. In other cases i had the buyer get a money order or cashiers check.
-
Bob "RealMan" Timm
Minot, ND
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
941,142
I'd explain why we don't have it yet. If possible or if the seller demands it, I'd get it. However, a listing agent cannot refuse to present the offer if you don't send a copy of the check.
-
Bob "RealMan" Timm
Minot, ND
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
536,943
It is required on all foreclosures in our area. I can see where an agent would insist on it for that reason.
Otherwise we state in the contract how and when the deposit check or money order will arrive.
-
Bob "RealMan" Timm
Minot, ND
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
872,064
Yes
-
Bob "RealMan" Timm
Minot, ND
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
557,036
If the buyers agent has signed off that they have received the check then the listing agent has no right/need/or requirement to see the check unless they will be holding the deposit, which rarely happens anymore.
-
Bob "RealMan" Timm
Minot, ND
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
4,273,331
It's not binding without a earnest monies deposit check or promissary note in our state...
-
Bob "RealMan" Timm
Minot, ND
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Valeria Mola
Sunny Isles Beach, FL
2,839,951
There are rules & procedures yet successful Real Estate comes in many form
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
5,984,052
5,175,271
I use to always see earnest money copy of the check but lately it a new ball game.
1,431,452
We mostly write and accept offers in which the good faith deposit is promised to be deposited to the escrow within a certain time limit. No copy of the check is necessary. Most escrow deposits are made by cashier's check or wire.
What do I do? I refer that agent to the contract, Praful Thakkar
I have never seen it done, but it is not strictly necessary to have an escrow deposit in order to have a valid contract.