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Safeguard the Earnest Money - Essential Tips for Agents

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Services for Real Estate Pros with Maximum One Realty - Managing Broker

Agent Points of Practice regarding Earnest Money in a Real Estate Contract. What are YOUR favorite tips or stories?

Dana Sparks, QB - Maximum One Greater Atlanta, REALTORS
Dana@MaximumOneRealty.com

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John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

It is typical for earnest money to be 3% of the sale price in our market. Less is often thought too little and countered.

Also, while our contract defaults to "deposit shall be made by the third business day after agreement", we will counter for "first" business day. We have had past deals were the buyer takes advantage of a weekend and three more days and then does not make the deposit due of "buyers remorse". Very aggravating!

Mar 19, 2025 01:39 AM
Dana (Lerner) Sparks

So interesting!  In Georgia Buyer & Seller negotiate the amount of Earnest Money & we see 1% of Sale Price on a fairly regular basis.   Also Buyer & Seller negotiate the number of days after Binding Agreement Date that the Buyer is to remit the funds to the Holder.  I love hearing how things actually work in practice in other states!  Thank yo for sharing John Juarez !

Mar 20, 2025 01:07 PM
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