THE EARNEST MONEY PROCESS - Start to finish

As we receive Earnest Money Deposits (EMD), funds are posted to our software, in a specific ledger that we have created just for your closing!  

Receiving EMD is considered a "milestone" for your closing. Once we receive the funds on our end, this milestone is marked as "completed" in our system and we automatically sign the EMD acknowledgement (Page 15) of the purchase contract. This information is then posted to our online portal and email notifications are automatically sent to Realtors, lenders, buyers and sellers. Our online portal will also provide all of the approved parties to the transaction with access to download the SIGNED EMD acknowledgement (along with other documents after closing).

Important: if we receive the EMD prior to receiving the purchase contract, then the file has not yet been created in our system, and we are unable to post the EMD to your dedicated closing ledger. The trust account is reconciled on a daily basis and all incoming credits must be accounted for.  Therefore, we must post the funds to a miscellaneous ledger while we wait to receive the purchase contract. Once we have the purchase contract, and the file is setup in our system, and we can then transfer the funds to the correct ledger to apply towards closing. 

If you have not received the email notification that the EMD milestone has been completed, and you would like to inquire about whether or not we have received EMD for an in-process file, then send an email to: [e-mail]. 

In this email, you must include the following information for us to confirm this information for you:

1. METHOD of EMD Transfer. Was it a wire, did you mail a check, did you use ZOCCAM?

2. AMOUNT of EMD

3. DATE of transfer

Once we have these above 3 details, EMD funds can be located in our trust account (if we have them) within a nanosecond and we can respond to your inquiry promptly.

For more information about how to get your EMD to us, click here