What is Earnest Money?

Earnest money is a deposit made by a buyer in a real estate transaction to demonstrate their serious intent to purchase the property. The purpose of earnest money is to provide the seller with some assurance that the buyer is committed to the transaction and will follow through with the purchase. This is typically the first important deadline in the residential sales agreement to satisfy. Your Designer Real Estate agent and/or transaction coordinator will keep you informed about upcoming deadlines. 
 

The process of dropping off earnest money in a real estate transaction with Designer Real Estate Group involve the following steps:
 

1. Connect with your agent or transaction coordinator to see what your earnest money options are. You may drop off a check or most title companies have mobile deposits as well for your convenience. 
    

2. Obtain a check (for this you can typically supply a personal check but also you may use a money order or cashiers check) for the earnest money amount.
    

3. Drop off the earnest money check or submit via mobile deposit per the title company's instructions.
    

4. Obtain a receipt or other confirmation of the earnest money deposit for your records. You do not need to worry about forwarding this to your agent. The title company will take care of that step for you!

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It is important to note that the specific process for dropping off earnest money may vary depending on the particular real estate transaction. It is always a good idea to confirm the details of the earnest money deposit process with your Designer Real Estate Group real estate agent or transaction coordinator handling the transaction.