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Rainmaker
1,456,827
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Fred Griffin When I had my company I had an escrow account and held the funds until disbursement inaccordance with escrow laws. State law requires the funds to be deposited within five business days unless otherwise agreed to in writing.

Feb 13, 2016 06:31 AM
Ambassador
3,312,211
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

When I represent a buyer, our Brokerage holds it.  

Feb 13, 2016 06:14 AM
Rainmaker
1,716,354
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Listing office holds EM. Must be processed within 24 hours of receipt in IL.

Feb 13, 2016 06:03 AM
Rainmaker
573,181
Jeffrey Jones
AZ Home Seekers - San Tan Valley, AZ
AZ Home Seekers, azhomeseekers.com

we never touch it, it goes straight to the escrow/title company

Feb 13, 2016 06:01 AM
Rainmaker
1,635,642
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Escrow deposits are wired into the closing attorney's escrow account. We do not accept checks, cash, or sheep as deposits.

Feb 13, 2016 09:37 PM
Rainmaker
4,174,659
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Title company holds all funds and disperses all funds..I like it that way!!

Feb 13, 2016 06:38 AM
Rainmaker
5,571,343
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

on resale homes, we usually hold the deposit.... on new construction, either the seller's attorney or the real estate office will hold it....I do have one builder who not only holds it but uses it ..... we sold the entire subdivision that way.... 25 active adult community homes.....

Feb 13, 2016 06:27 AM
Rainmaker
1,104,814
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Fred, it goes from my hand to the designated closing or title agent in the shortest time possible. It's too hot to fool around with OPM these days. 

Feb 13, 2016 06:16 AM
Rainmaker
3,969,791
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Goes to the title company.

Feb 13, 2016 06:15 AM
Rainmaker
846,160
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Both, but most times the buyers Broker holds it.

Feb 13, 2016 05:56 AM
Ambassador
5,358,621
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

In Wisconsin, it goes in the brokers trust account.

Feb 13, 2016 05:54 AM
Rainmaker
634,272
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Usually the buyer wires it to escrow but if if we get a personal check the title company's courier picks it up. We don't hold any deposits.

Feb 13, 2016 05:43 AM
Rainmaker
4,060,489
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Buyers typically wire funds or deliver check to escrow holder within three business days after acceptance.  

Feb 13, 2016 08:47 PM
Rainmaker
3,985,837
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

They are held in my company trust account that I am required by state law to have for this reason

Feb 13, 2016 06:58 AM
Rainmaker
468,799
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

Check or wire to escrow company to hold.  No funds of any kind held in house ever (we could legally do so,  just lots of extra admin).

Feb 13, 2016 06:29 AM
Rainmaker
1,874,225
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Our Brokerage has always held it until 24 hours before closing. I like having control over it.

Feb 13, 2016 05:44 AM
Rainmaker
4,056,241
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

In North and South Carolina, typically held by one of the brokerages. Every so often a small independent brokerage who doesn't maintain a trust account will place the money with the closing attorney. More often they give it to the agent with the firm that has a trust account. Many attorneys in town charge money to take an earnest money deposit and hold it; they just don't want to do the accounting for it.

Feb 13, 2016 09:01 PM
Rainmaker
4,159,309
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I use a title company for convenience!

Feb 13, 2016 08:34 PM
Rainmaker
605,123
Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Hello Fred.  We give to Title with our broker still being responsible.  Mark

Feb 13, 2016 07:11 PM
Ambassador
4,312,753
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Fred Griffin the listing office usually holds the escrow money.

Feb 13, 2016 02:24 PM
Rainmaker
1,683,350
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

The Brokerage has a special Earnest money account.

Feb 13, 2016 12:46 PM
Rainmaker
2,442,552
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

In Indiana the Listing Brokerage is responsible for the EM.  We have an account for other peoples money.

Feb 13, 2016 12:15 PM
Ambassador
1,813,430
Alan May
Jameson Sotheby's International Realty - Evanston, IL
A moving experience!

In Illinois, we are not an escrow state.  The listing agency typically holds the earnest money... and that check, by law, must be deposited by close of the following business day.

Feb 13, 2016 11:48 AM
Rainmaker
1,380,523
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

They go to escrow.

Feb 13, 2016 11:23 AM
Rainmaker
1,525,205
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I turn it in to my broker who desposits it into an escrow account if I am working with the buyer.

Feb 13, 2016 11:02 AM
Rainer
318,613
Melissa Jackson
Century 21 Alliance Properties - Azle, TX
Helping You Make The Right Move

Title company holds earnest money.

Feb 13, 2016 10:53 AM
Ambassador
3,034,300
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

with rare seller demands that cause me to do something out the norm, my brokerage holds EMD for the buyer in a trust account.

Feb 13, 2016 10:29 AM
Rainmaker
140,568
Joan Dickie
Keller Williams Premier Realty - La Crosse, WI
Keller Williams Premier Realty

In the 2 states that I work in, generally the listing agent's brokerage holds the money.  The title company usually just subtracts it out of the commission check it cuts.

Feb 13, 2016 10:22 AM
Ambassador
2,069,397
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

In our area, most brokers will not hold escrow deposits so they go to title companies.

Feb 13, 2016 10:06 AM
Ambassador
3,037,433
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Always into escrow ... funds are either delivered by check or wired to escrow.

Feb 13, 2016 10:05 AM
Rainmaker
2,020,150
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Usually the Listing Broker holds the Earnest Deposit until closing .

Feb 13, 2016 09:53 AM
Rainmaker
534,546
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

Our Brokerage holds it.

Feb 13, 2016 07:36 AM
Ambassador
4,558,204
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Our brokerage does not have a trust account. Once we are in escrow buyer funds, per the contract, are to be delivered, usually by wire, to escrow within 3 business days

Feb 13, 2016 06:47 AM
Ambassador
3,986,660
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Whenever I can I have the buyer deposit it with the escrow agent or closing attorney. It is easier for all concerned.

Sep 25, 2016 11:59 AM
Rainmaker
415,391
Katina Hargrove 352-551-0308
Stake Your Land Realty, Inc. - Eustis, FL
Broker/Owner, GRI,SFR, REALTOR®

Good morning Fred,

To the Real Estate Title Attorney Company:)

Feb 15, 2016 10:39 PM
Rainmaker
877,557
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Fred - The earnest money is deposited with title and escrow company upon contract acceptance.

Feb 15, 2016 12:31 PM
Rainmaker
4,885,403
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

All earnest monies go the title company.

Feb 15, 2016 10:54 AM
Rainmaker
3,321,246
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Here in NH it is held in the listing brokers escrow account

Feb 14, 2016 09:35 PM
Ambassador
2,224,117
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

My office let's the title company hold the check. 

Feb 14, 2016 10:41 AM
Rainer
150,166
Michael Thacker - Re/Max Real Estate Center - Louisville
Re/Max Real Estate Center - The Thacker Group - Louisville, KY
Your best friend who just happens to be a Realtor

The buyers agent brokerage usually holds it, and then brings to the closing.

Feb 14, 2016 04:55 AM
Rainmaker
4,799,481
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

We use one of two attorneys to hold our escrow deposits.

Feb 14, 2016 04:05 AM
Rainmaker
6,545,014
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Either way will work in our market. Most of the deposits are held in the escrow account of the broker.

Feb 14, 2016 02:03 AM
Ambassador
1,208,934
Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

In Indiana the listing office holds it until closing.  

Feb 14, 2016 12:02 AM
Rainmaker
2,634,337
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

made out to escrow....

Feb 13, 2016 11:39 PM
Rainmaker
887,933
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I actually prefer to make it a Contract provision that Buyer wires or overnights EMD to escrow so it arrives by the 3rd business day following execution. We do not hold client's money, and I don't want it going into escrow till we have a deal. It's too easy to wire, anyway, and clients usually prefer it as do our title companies. We don't use attorneys.

Feb 13, 2016 11:32 PM
Rainmaker
3,997,375
Richard Weeks
Dallas, TX
REALTOR®, Broker

Title company

Feb 13, 2016 10:51 PM
Rainmaker
440,547
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

The escrow deposit is held by who ever the contract of sale dictates to hold it.

Feb 13, 2016 10:17 PM
Rainmaker
3,069,934
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Deposited with Title & Escrow.

Feb 13, 2016 10:15 PM
Rainmaker
4,433,583
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Listing office holds in an escrow account most of the time . 

Feb 13, 2016 10:06 PM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

The title company. Almost all of my business is out of state investors so wire transfers to the cloisng company makes s]ense, and it eliminates extra paperwork required by the state for trust accounts.

Feb 13, 2016 09:46 PM
Rainmaker
424,605
Brenda J. Andrew
ULTIMA REAL ESTATE - Corpus Christi, TX
Professional Realtor in Corpus Christi, TX

Earnest money is held by the title companies in our area.

Feb 13, 2016 09:31 PM
Ambassador
2,759,387
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Good morning Fred Griffin . I handle artists money carefully, very carefully!

Feb 13, 2016 05:09 PM
Rainmaker
202,542
KAREN SANCHEZ
Hamilton Landon Real Estate - Apple Valley, CA
...Marketing your home like no one else will.

I try to have the buyer deliver the deposit to escrow which is the default on our purchase contracts.   

Feb 13, 2016 03:03 PM
Rainmaker
1,157,485
FN LN
Toronto, ON

Deposits are given to the party identified in the contract.

Feb 13, 2016 02:53 PM
Rainmaker
872,826
Peter Mohylsky. Broker -BRIX REALTY
Miramar Beach, Florida - Santa Rosa Beach, FL
BRIX REALTY -DESTIN

Emd due within 3 days of signed contract. I will provide wireing instructions.

Feb 13, 2016 12:38 PM
Ambassador
3,722,438
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

I usually have the title company hold the escrow.  That way, if I forget to order the check from our admin, there's not problem.

Feb 13, 2016 11:51 AM