Texas Terminating Contract within 3 Days-Earnest Deposit Needed?

[Priyanka K.]

Hello fellow REIs,

I have a quick question on Earnest money check deposit on a property in Texas. Per TREC contract, Earnest check has to be deposited within 3 (business) days. My question is - if the contract is terminated within the 3 days period, is the Earnest deposit still needed? Option period is longer than 3 days.

I understand the option money is non refundable and is lost but want to understand Earnest requirements. 

Thanks for your help!!

priyanka