Earnest Money Contract Template printable pdf download

EARNEST MONEY STAPLE CHECK TO THIS FORM

DATE TURNED IN:

AGENT NAME:

PROPERTY ADDRESS:

PURCHASER:

SELLER:

(Purchase & Sales Agreement Paragraph 3)

The earnest money shall be deposited in Holder’s escrow/trust account (with Holder retaining the interest if the

account is interest bearing) within (5) banking days from the Binding Agreement Date. If Buyer writes a check

for earnest money and the same is deposited into Holder’s escrow/trust account, Holder shall not be required to

return the earnest money until the check has cleared the account on which the check was written. In the event

any earnest money check is dishonored by the bank upon which it is drawn, Holder shall promptly give notice

of the same to Buyer and Seller. Buyer shall have 3 banking days after receiving such notice to deliver good

funds to Holder. In the event Buyer does not timely deliver good funds, Seller shall have the right to terminate

this Agreement upon notice to Buyer.

OFFICE POLICY & PROCEDURES

Earnest Money is deposited when a contract is turned in. Keep in mind that the contract requires that the

earnest money be deposited within (5) business days of the binding agreement date. Please turn in a contract as

soon as possible. Faxed Copies of the contract are acceptable. However it is still recommended that an original

contract is obtained.

PLEASE READ!!

(10) Ten Business Day Deposit processing period from the date of deposit on all personal checks. Inform your

purchaser if the contract is terminated their earnest money check must clear our account before it can be

released back to them. (Minimum of (10) business days)

Earnest Money will not be released without a signed agreement.

(Termination & Release Agreement Gar Form F83)

If the closing occurs prior to the (10) Ten Business Day Deposit processing period the amount of the earnest

money check will be withheld from your commission. Consider amending the contract to show no earnest

money or having your purchaser get certified funds or a money order instead of a personal check.

The number one compliant filed with the Georgia Real Estate Commission is the mishandling of Earnest

Money. We must always follow the signed written agreement. If you have any questions do not hesitate to

contact the office.

Earnest Money Deposit: If the deposit is to be held for any reason please write out instructions on the back of this form. The contract

must reflect the reason (s) why the earnest money is being held. If no instructions are provided the earnest money will be deposited

when the contract is turned in.

Earnest Money Contract Template