Earnest money is a deposit a buyer makes after an offer is accepted to show they're serious. It's usually held by a neutral party — an escrow, title or brokerage trust account — not by the seller. The amount and deadline are in your contract.
When it's due
Contracts typically give a short window after acceptance, often a few days. Missing it can put the deal at risk, so it's one of the first deadlines to put on the calendar.
Sending it safely
- Get the instructions directly from the escrow or title company.
- Before sending, call them at a phone number you found independently — not one in an email.
- Be suspicious of any message that changes the instructions, especially at the last minute.
- Keep the receipt and confirm with escrow that it arrived.
What happens to it
At closing, earnest money is usually credited toward your down payment and closing costs. If the deal doesn't close, what happens to it depends on your contract and contingencies — ask your agent and, where needed, an attorney.
On a ClosedEasy board, the earnest money step carries a wire-fraud warning with your agent's verified phone number, and a button to tell your agent you've received instructions before you send anything.