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Updated almost 7 years ago on . Most recent reply

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42
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10
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Scott Michael
  • Flipper/Rehabber
  • Portland, OR
10
Votes |
42
Posts

Question about where/when to pay earnest money

Scott Michael
  • Flipper/Rehabber
  • Portland, OR
Posted

I have a question about how earnest money works. I've asked where to send the earnest money when I sign a purchase and sale contract with a seller. It's been answered that the money should go to a title or escrow company (I am in CA). But if I haven't shopped the deal yet and don't have a buyer isn't it too soon to open escrow? How do you pay the earnest money without opening escrow? Thanks everyone!

Most Popular Reply

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3,177
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Christopher Phillips
  • Real Estate Agent
  • Garden City, NY
1,999
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3,177
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Christopher Phillips
  • Real Estate Agent
  • Garden City, NY
Replied

@Scott Michael

It would be sent to the title or escrow company.

Ideally, you already have a buyer lined up and they can send a check over.

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