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Updated over 13 years ago on . Most recent reply

User Stats

102
Posts
13
Votes
Spencer I.
  • Investor
  • Houston, TX
13
Votes |
102
Posts

How to get back earnest money

Spencer I.
  • Investor
  • Houston, TX
Posted

I recently got a contract accepted from a realtor for a property I am going to wholesale. I put up $1k earnest money and the title company has withdrew it from my account. Now I have a buyer ready to close, but I want to know what do I get my $1k earnest money back? or is it supposed to go towards closing? I'm a little confused what to say to the title company. Closing the deal in a couple of days, so any response will be greatly appreciated.

Most Popular Reply

User Stats

56
Posts
3
Votes
Bridget D.
  • Involved In Real Estate
  • Westchester, CA
3
Votes |
56
Posts
Bridget D.
  • Involved In Real Estate
  • Westchester, CA
Replied

I'm not sure about Texas, but you should be able to contact the title company and do a swap. I've done it and have seen it done many times here in California (I'm an Escrow Officer). It's normally not a problem or big deal especially if another form of EMD is made payable to the Title/Escrow Company.

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