Accepted offer!!! Now what? Earnest Money
If you've been working hard to find a new home or trying to sell your home, then you can certainly start to celebrate after you have an accepted offer. Below is a short video clip that says one of the first things that the buyer will need to do after reaching an agreement with the seller.
The earnest money check is a good faith deposit that will be applied to any additional amount due at the closing. Depending on the offer terms, the earnest money check will be either mailed to the listing broker or dropped off in person.
Any breach in your offer to purchase contract could put your earnest money in jeopardy and one should consult an attorney to discuss the options available....