Easily calculate your investment costs for our Listing plans.Flat Fee Conversion
THT Buyer Series 6 - Earnest Money & Next Steps
Dated: January 27 2024
Views: 87
Your Earnest Money Deposit Instructions
In our Atlanta market, the Buyer's Broker generally holds the Earnest Money in a protected Escrow Account. There is also a trend to the closing attorney holding the funds, as attorneys are generally seen as neutral third parties.
Earnest Money is submitted according to the terms of your agreement to an escrow company and immediately deposited with the accepted purchase contract. At the close of escrow, the EMD is credited towards the down payment and / or closing costs. If there are no closing costs or down payment, the EMD is refunded back to the buyer.
While many inexperienced home buyers think that this is the down payment, it really isn't. The earnest money deposit is made along with your offer to show the seller that you are a serious buyer and goes TOWARDS your down payment. The down payment, of course, is much larger and comes at the time of closing.
Here is a link for a very good more detailed explanation of Eaernest money in Georgia:
A Brokers Duty Regarding Earnest Money
Once you are under contract...we may send you an email to conveniently deliver your earnest money that looks like this:
According to your Purchase and Sale Agreement, your Earnest Money in the amount of $___________ is due to our office by __/__/_ and must be sent in on time. You can issue a payment from your checking by using our secure easy pay button at https://www.rmaaezpay.com/ there is a nominal charge for this but much more convenient than wiring. Just go on the site and follow the instructions for "Earnest Money" deposit.
The Earnest Money is deposited into our RE/MAX Escrow Account immediately, and then credited to you at closing as a part of your down payment.
Jay Voorhees - Team Traditions
Jay has been a widely respected member of the Atlanta real estate industry since for over 30 years. After decades of successful sales and almost $200 million in volume, his track record remains spotle....
Latest Blog Posts
Every city has at least one big-shot real estate agent. Maybe it’s someone who’s been working in the business for decades. Maybe he or she has invested a lot of time and money into
Traditions Home Team - Powered by RE/MAX Lower cost, Better Service and the ultimate in pricing flexibility
Real Estate Compensation FactsWe have received questions about why brokers representing home sellers often pay the compensation of brokers representing home buyers. Here are answers to those
©2026 Georgia Multiple Listing Service All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may
Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work please 