The biggest and most stressful part of any home-buying experience is putting down the money. When the seller accepts a buyer’s purchase offer, the buyer then will put down a deposit to signal their intent to purchase the home. This is the earnest money deposit!
Earnest Money – Is It Required?
Depositing earnest money isn’t always required. However, most title companies and mortgage lenders will require it as a good-faith down payment. This earnest money deposit protects both the buyer and the seller. It protects the buyer if something is wrong with the home, it protects the seller if they decide the deal isn’t for them, and it provides the seller with that deposit in the case the buyer backs out of the agreement.
Earnest Money – How Do I Send It?
There are several ways to make your earnest money deposit. One way is to pay via check – either a personal check, a bank-issued check, or a certified check. These each have their own particular process.
In the modern era, Continental understands the need for easy payment at your fingertips. That is why we have online earnest money deposits! Save yourself the headache of all the bank trips, and pay your earnest money securely online.
Sending Earnest Money Securely Online
Many folks worry about the security of sending money online. The American Land & Title Association has many resources to protect you from wire fraud – and all are practices Continental Title Company has put in place! Read about our security and privacy practices using CertifID.
Watch the ALTA video below on how to protect your money from wire fraud schemes when purchasing a home.
Send Earnest Money Deposits Securely Online With Continental Title Company
Continental Title Company has over 20 years of experience in the industry, in addition to being a recognized industry leader. If you are interested in learning more about our services for yourself or a client, please contact our team at our home office to be directed to your closest title agent: 913.338.3232.