Buying & Selling Real Estate Discussion

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Matt Berklacy
  • Rental Property Investor | Realtor
  • Jacksonville FL | Savannah Ga |Raleigh NC
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EMD deposit. from end buyer; wholesale, send to title or cash?

Matt Berklacy
  • Rental Property Investor | Realtor
  • Jacksonville FL | Savannah Ga |Raleigh NC
Posted Jul 26 2019, 04:52

Do you prefer end buyer to send his/her earnest money (for accepting your assignment of contract), to the title company directly, to hold escrow, as better practice of business? (as opposed to say, giving it to you or mailing it to you, your home, to cash)

i feel awkward asking it sent to me, (though i do clarify its non refundable; except for any title lien issue, etc)

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John K.
  • Wholesaler/Investor
  • Dallas, TX
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John K.
  • Wholesaler/Investor
  • Dallas, TX
Replied Jul 26 2019, 05:12

EMD should always go to title. This provides some reassurance to the buyer that there is an actual deal to close, presuming all things check out on the title, as you mentioned. Unfortunately, there are far too many stories of EMDs being handed directly to the "seller", then they disappear.