Copy of earnest money deposit check

View all Local Real Estate forums. Bank accepted my offer on a property. The listing agent gave me a separate pdf with instructions on Wire Transfer to transfer the deposit to banks escrow.

Home Buying: What is the canceled earnest money check? How can I get it? - Trulia Voices

Does this mean wire transfer is my only option? What if I just send a copy of a check in the amount of deposit? Will that count as "written proof of the Buyer's earnest money deposit"? Or does it mean that "written proof of the Buyer's earnest money deposit" is a receipt of a completed wire transfer? Listing agent advised to send the wire transfer no later than tomorrow and to make sure to send a receipt showing I sent the transfer.

It should be clear in the contract, but generally, it will stipulate that you have a specific amount of time to supply the earnest money 48 hours is typical and will generally stipulate its form certified funds is typical. Regardless of what the contract says, most REO listing agents and sellers are going to require certified funds very shortly after the contract is signed by both parties.

I'm sure wiring money directly to the escrow company is fine, but it's not your only option; you should be able to get a cashier's check and deliver that directly to the escrow company as well. A personal check most likely will not suffice for REO earnest money, and if you try to wait to deliver the funds until after your inspections, you may find that the bank has dropped your contract, especially if there are other interested parties.

Oh, and yes, if you decide to back out, the escrow company may take a week or two to return your earnest money I agree with J Scott.

I sell REO and they will take personal checks.

Many however only take "good funds". It could be state dependent though I'm not sure. Here in Colorado it's whatever the bank asks for. Already have an account? If you signed up for BiggerPockets via Facebook, you can log in with just one click!

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Michael De La Nuez Real Estate Investor from Deerfield Beach, Florida posted almost 6 years ago. J Scott from Ellicott City, Maryland replied almost 6 years ago Moderator. Colin Gumm Residential Real Estate Broker from Littleton, Colorado replied almost 6 years ago. Trending Discussions Failure to launch, no luck so far Replies.

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Earnest Money: Copy of a Check or Proof Of Funds? - Searchlight Crusade

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