Does a PSA "time out" if EMD not placed on time with title compan

[Sean Dezoysa]

1. Say a check or bank wire bounces. Contract itself doesn't state when EMD must be deposited with title. Problem or not? If not, is there any time limit at all or can I deposit the day before closing?

2. Sometimes I would like to take title in a new entity, LLC or trust. If this new entity is listed as the buyer, is there any requirement that the buyer named on the PSA pays EMD and other fees? Because ideally, my "main LLC" does that. Else I'll have to open bank accounts for the holding entity