Step 11: Earnest Money Deposit
Earnest Money Deposit
You and the seller have accepted the terms and you have an executed contract! What’s next? You now need to drop off your earnest money deposit.
I will email you the details of how much and where the EMD needs to go.
Generally, I’ll have you use your TItle Company of choice to hold your earnest money deposit. EMDs are due within 3 days of contract execution. These days you can drop off a check during business hours OR you can pay your EMD online for a fee ($10-$15).
►►► Please ask for a receipt and email me a photo of the receipt so I can add it to your file.
Remember, the amount of your EMD will be used towards your down payment.
Empowering clients to build and preserve wealth through real estate.
Ready to connect? Reach out! I look forward to helping you on this journey!
Monique Hanson is a REALTOR® serving the greater West Michigan area. Monique helps people buy and sell homes in Kent, Muskegon, and Ottawa Counties. You can contact Monique by calling or texting 616-805-9177 or emailing hello@moniquehanson.com.