I Just Signed The Contract How Long Do I Have To Get The Earnest Money Turned In

Dated: 05/16/2018

Views: 50

I get asked the "earnest money" question quite often by home buyers.  "How many days do I have to turn in my earnest money?"


Recent changes were made to the One to Four Residential Contract  (TAR 1601, TREC 20-14) in February that went into effect in May.  The Earnest Money paragraph outlines the details for the number of days to deliver the earnest money check.  Today, buyers have 3 days after the effective date of the contract to deliver the earnest money to the escrow agent on the contract.  The contract also states that time is of essence.  If the earnest money is not delivered within the 3 days, the seller can exercise his right to terminate the contract under Paragraph 15.  

Good news for the buyer, if the third day falls on a weekend or a holiday, the buyer can deliver the check on the next business day.


As for me, I always advise my clients to turn in the earnest money within 24 hours of the effective date of the contract.  This way, we avoid any issues with the timely delivery of the earnest money.  Plus, it shows the seller that we are committed to this transaction  and will meet the transaction deadlines in a timely manner.


For questions, please call Janet at (210)389-4715.   You can also reach Janet through janet.sahouses.com.



Janet Wingrove has been a licensed realtor in the state of Texas since 2007 and has been selling real estate in San Antonio ever since.  My #1 goal is to help people achiever their real estate dreams! - Janet

Latest Blog Posts

History Of Veterans Day

Thank you to ALL the veterans out there. They and their families' sacrifice so much for our freedoms. This Memorial Day, let us pause for those who gave their lives in selfless service to

Read More

I Am Buying A Home Can I Keep The Sellers Washer And Dryer

Is the washer and dryer included as part of the sale when you purchase a home?  No it is not.  Unless, it is documented as part of the purchase in the contract, it will not convey to the

Read More

I Just Signed The Contract How Long Do I Have To Get The Earnest Money Turned In

I get asked the "earnest money" question quite often by home buyers.  "How many days do I have to turn in my earnest money?"Recent changes were made to the One to Four Residential Contract;

Read More

San Antonio A Hot Sellers Market

San Antonio is still a hot market for sellers.  Homes are selling pretty fast. I just closed on a home today that went under contract the very 1st day, and for full asking price. Check out the

Read More