Your earnest money check
Earnest money checks need to accompany your purchase offer. It shows the seller you’re a committed buyer, and it helps fund your down payment.
Without earnest money, you could make offers on many homes, essentially taking them off the market until you decided which one you liked best. We typically do not see sellers accepting offers without deposits.
Assuming all goes well and your purchase offer is accepted, the earnest money will be deposited by the listing broker into their trust account or alternatively with the closing company who will be coordinating the closing of your transaction. Your deposit will be credited directly toward your down payment and closing costs. In many circumstances, you can get most of your deposit back if you discover something unsatisfactory with the home during the investigations period or if the loan or property is denied in the loan underwriting process.
In the memo line of your check, write “EM check for (property address)”.
If you have questions, call or text me at 405-585-6580.