Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Level up your investing with Pro
Explore exclusive tools and resources to start, grow, or optimize your portfolio.
10+ investment analysis calculators
$1,000+/yr savings on landlord software
Lawyer-reviewed lease forms (annual only)
Unlimited access to the Forums

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

23
Posts
4
Votes
Bret Kingcade
  • Shawnee Mission, KS
4
Votes |
23
Posts

Earnest Money/Title Company Questions - first time buyer

Bret Kingcade
  • Shawnee Mission, KS
Posted

I finally put my first property under contract last night. I unexpectedly ended up finding something off the MLS so I won't have an agent to hold my hand like I originally planned. I understand how everything works WITH an agent helping me but if I'm being honest, I am kind of lost on the title company/escrow side of things now that it's all in my court. Any input on my questions below would be a huge help and greatly appreciated.

1) I agreed to put down an earnest money deposit at a specific title company. How does this process work? The seller mentioned he was going to contact them (seller is a licensed agent) but if I'm being honest, I'm not entirely sure what my role is here other than the fact that I am giving a check for a certain amount. Do I need to contact the title company before I show up to set up the account? Can I show up at any one of their branches?

2) Other than the earnest money deposit, do I need to pay the title company anything right now or do I just pay them in closing fees at the end? The contract says the seller pays for the title insurance.

3) Please let me know if you think I am overlooking anything else important here...

Thanks! Apologies for the novel.

Loading replies...