Earnest money deposit

[Brandon Lewis]

Hey BP community I am new to real estate and I have am become very interested in using wholesaling as an investment strategy. I have currently been looking over several purchase and sale agreements used for wholesale deals, and I wanted to ask if anyone knows if the seller holds the funds for the earnest money deposit; for the property under contract, or is it given to a third party until the deal is closed? Thanks for your time and I’m looking forward to your replies!