Kim Loizzi, Broker Associate - North West New Jersey (Century 21 - Christel Realty)

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Rainmaker
998,453
Corinne Guest
Corinne Guest, REALTOR® | Barrington Realty Company - Barrington, IL
Barrington Lifestyles

Per the contract which states when the EM will be deposited and with who. I am sometimes asked for a copy of the check which is stupid, the EM amount might be countered. 

Sep 15, 2016 12:47 AM
Ambassador
3,912,345
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Every now and then a listing agent will request a copy of the EMD with the offer. I don't get it. Anyone can write a check - it doesn't mean they legitmately have money in the bank! The proof is in wiring the funds to escrow once you have acceptance. Our contract stipulates within 3 business days after acceptance but negotiable. I like to see POF (Proof of funds) with an offer and include one when my buyers submit.

Sep 15, 2016 12:45 AM
Rainmaker
3,237,902
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

In California, I don't include a copy of a check as the initial deposit is typically sent via electronic transfer within three business days of acceptance.  I include proof of funds not only for the deposit but for the down payment(financed offers with mortgage pre-approval) or full purchase(cash transactions) when submitting offers on behalf of my clients.  

Sep 15, 2016 12:42 AM
Rainmaker
2,970,330
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

It depends on the contract terms and each state's contracts are quite different. In NC, you have multiple options to deal with EMD and DDF. Some aspects are state-required.

Sep 15, 2016 12:54 AM
Rainmaker
2,939,742
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I do not include the actual check but a copy. here we make it out to the listing agency which is our custom to hold escrow checks. 

Sep 15, 2016 12:54 AM
Ambassador
1,249,433
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

Our offers stipulate when and to whom the deposit is made.  It can be attached, upon acceptance or any other choice made ie. within 3 days.

Sep 15, 2016 01:52 AM
Rainmaker
1,504,160
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

No I don't present a check, I write in contract that it's due 1 day after acceptance. All EM checks in my neck of the woods are made out to the sellers broker.

Show proof of deposit/cancelled check to lender only.

If EM check bounces, buyer is in default obviously & must bring in a certified check.

Sep 15, 2016 01:28 AM
Rainmaker
1,366,627
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Kim Loizzi It is customary to provide the EMD check with the offer. The buyer's agent then provides a copy of the check with the offer to the listing agent. The check is then provided with the ratified/accepted offer. The check is made out to the listing broker. By law, the broker has five business days to deposit the check into their escrow account. Should the contract fall through the buyer and seller will sign a release to determine the disposition of the funds. Should there not be agreement, it will be taken out of the broker's hands and the court will make the final decision as to the disposition.

Sep 15, 2016 01:13 AM
Ambassador
1,613,518
Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I send a blank check with the amount of EM.

Oct 02, 2016 12:23 AM
Rainmaker
4,018,153
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

For the most part, we do not get the check until the offers gets accepted.

Sep 21, 2016 07:50 AM
Ambassador
3,673,422
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

I include a copy of the check with the offer.  I generally don't ask for or provide proof of deposit. 

Sep 18, 2016 10:43 AM
Rainer
211,134
Jessie Cochran
Counts Real Estate Group, Inc. - Panama City, FL
Panama City Realty Group

Wait for the offer to be accepted then have the customer write the check/send the funds to the title company

Sep 16, 2016 12:41 AM
Rainmaker
821,580
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

No I do not - I wait for the acceptance then have my customer forward to the appropriate title company

Sep 16, 2016 12:21 AM
Ambassador
2,343,739
Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     Photocopy of check attached with Offer.  It is a good "visual" for the Seller.

   We (Brokers) make it out to the Title Company, and get it out of our hands when the offer is accepted. 

  The Contract shows who has it, with their contact info.

  This is from Florida Realtors Contract:

 Deposit Clause in FAR Contract

 

Sep 15, 2016 11:38 PM
Rainmaker
4,431,972
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

It depends.

Sep 15, 2016 10:18 PM
Rainmaker
5,258,704
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Follow the practices in your office and the terms of the contract.

Sep 15, 2016 09:12 PM
Rainmaker
3,049,771
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Our Sellers "require" it be presented with the offer...or it's considered "incomplete"...

Sep 15, 2016 08:57 PM
Ambassador
4,298,221
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Kim Loizzi - usually I send a copy of the check with the offer and is payable to the listing broker.

Sep 15, 2016 03:59 PM
Ambassador
4,049,653
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

I always write in that I will provide EM within 5 days of Acceptance of the offer.  No point in sending checks back and forth until we have an agreement, when I am in buying mode we make a lot of offers and to write a check with each would just be too confusing for all.

Sep 15, 2016 03:15 PM
Ambassador
2,848,810
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

selling agent company is customary in my market.  Also contracts sometime stipulate a certain number of days past binding for brokerage to get check. If I have the check I send a copy in the email with the offer with the account number redacted. 

Sep 15, 2016 01:55 PM
Rainmaker
1,523,560
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

We always make the EMD check out to our company unless the MLS states that it will be held by the listing company.

Sep 15, 2016 01:49 PM
Rainmaker
2,394,715
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

What does GFD/EMD mean in your market?

Sep 15, 2016 01:12 PM
Ambassador
3,181,375
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Yes - Buyers present the Offer with the name of whoever is holding EMD.  We make a copy of their EMD check and send it in with the Offer along with all other documents.  It shows that the buyer isn't just making a stab at an Offer - they're serious about it by submitting a COMPLETE Offer!

Sep 15, 2016 12:29 PM
Rainmaker
3,977,511
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I bring the check with me

Sep 15, 2016 11:22 AM
Rainmaker
1,477,056
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

I do not take checks for years. All EMD ''to be wired to the escrow'' after acceptance of the offer. 

Sep 15, 2016 09:56 AM
Rainmaker
3,761,923
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Agree with Jeff Dowler and Michael Jacobs ..proof is in wiring the funds..we are 2 business days!

Sep 15, 2016 09:36 AM
Rainmaker
2,762,673
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Wire funds to escrow within one business day of acceptance. 

Sep 15, 2016 07:59 AM
Ambassador
3,981,932
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I sometimes do but our contracts have a provision that allows us to stipulate the days after agreemnt is reached. Most sellers don't have to see the check with the offer, they just want to know the terms and the bottom line.

Sep 15, 2016 07:25 AM
Rainmaker
1,157,264
FN LN
Toronto, ON

It depends on the specific transaction.

Sep 15, 2016 05:57 AM
Rainmaker
910,422
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Everytime you write an offer it had better be good to go within 3 days of acceptance in CA. Proof of funds too.

Sep 15, 2016 05:07 AM
Rainmaker
2,422,940
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Winforms has boxes that you check that covers some of your concerns. I have checks made out to escrow. No proof required

Sep 15, 2016 03:44 AM
Rainmaker
4,796,451
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Most of the time there is an initial amount to be followed by a larger second one after inspections are completed.

Sep 15, 2016 03:17 AM
Rainmaker
4,864,043
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

the check is made out to the listing office in our area....

Sep 15, 2016 03:01 AM
Rainmaker
2,890,027
Richard Weeks
Dallas, TX
REALTOR®, Broker

Before the offer is accepted I would just include a copy of the check.

Sep 15, 2016 02:45 AM
Rainer
138,389
Chrissi Chapman Topoleski
Re/Max Real Estate Connections - Haymarket, VA
HOME~There is no place like it!

Most agents ask for a copy of the EMD, which is silly as our contract states it can be delivered by a certain date. The EMD usually goes to the brokerage writing the offer.

Sep 15, 2016 02:13 AM