When is earnest money due?

Earnest money is due by the deadline written in your purchase contract, which is usually a few days after the seller accepts. In Texas, for example, the standard resale contract gives the buyer 3 days after the effective date to deliver it to the escrow agent. Other states and forms use different deadlines.

Read the deadline closely. Some forms count calendar days rather than business days, and some push a deadline that lands on a weekend or holiday to the next working day. Ask your agent which rule your contract uses.

Paying late can cause real trouble. Depending on the contract, the seller may be able to cancel the deal or treat you as in default. Line up the money before you make an offer so a wire or check can go out right away. The guide on how to pay earnest money covers the payment steps.