To whom should I write the earnest money check?

 

To whom should I write the earnest money check?

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When submitting an offer, you’ll need to provide your End Zone Realty REALTOR® with an earnest money check so they can submit it along with your offer.

However, since you’re not sure the seller will accept your offer, you can simply write your check to “End Zone Realty” and, in the event your offer is accepted, your REALTOR® will assign the check (i.e. sign over the check) to the entity that will be holding the earnest money (e.g. listing broker or title company).

Your earnest money check won’t be deposited by anyone unless a contract is fully executed (i.e. all parties have signed), at which time your REALTOR® will deliver the check to be deposited.

Making your check out to End Zone Realty also allows you to write a single check and use it for multiple offers, assuming they have the same earnest money amount and are relatively close in date (we don’t want to use a 3 month old check).

Sometimes you may be required to submit a cashier’s check to a specified entity if your offer is accepted, but this is usually only required in certain instances when purchasing government-owned property.

If your offer isn’t accepted or you need to submit a new check, the other check will either be destroyed or returned to you. It would not be deposited.


Real Estate Answers: Buying

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