Friday, May 28, 2010

Your Deposit Check

You've found a house you want to write an offer on.
To show you have an interest, your offer should be sent with an "earnest money deposit" which customarily is in a form of a check.

A copy of the check (usually made to the broker representing you or an escrow company) accompanies the offer to be presented to the seller.

Your realtor will hold the check through negotiations and will send the check to the escrow or title company, or listing agent when you have an "executed contract" which is a contract where both buyer and seller have agreed to price and terms and all signatures are complete.

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