Now that your offer has been accepted by the seller and we have a binding contract, it’s time to drop off your trust money check. Trust money checks usually need to be dropped off within 3 business days of contract execution. So, what is trust money? Click here to read a great article explaining earnest money.
I will email you exactly how much your trust money check should be made out for, who it should be made out to and where it should be dropped off. In the “For “line of your check, put “trust money check for (insert property address).” Put the check in an envelope, but don’t seal it. On the outside of the envelope write “trust money check for (insert property address) ” and your name.
Generally the check is dropped off at the office of the seller’s Realtor. Try to go during normal business hours to drop it off as you’ll need to get a receipt. When you get there, ask the receptionist to give you an trust money receipt which you then need to email me. Once you’ve been given a receipt, go ahead and seal the envelope with the check in it and give it to the receptionist. In addition, please text me after you’ve dropped off the check so I can let the seller’s Realtor know it’s been dropped off.
If you go after normal business hours or if the office is very small, there may not be a receptionist. Instead the door may be locked. If this is the case, look near the front door for a drop box where trust money checks can be safely left.
As a reminder, your trust money check amount will be deducted from your final down payment.
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