Mutually Executed Contract & Earnest Money Receipt

Once you and the buyer have signed the contract, you’re officially under contract! Once that happens, we’ll send a copy of the executed contract to the title company to start the process of getting you to the closing table.

In the meantime, typically within 2 business days of the contract being signed, the buyer is required to drop off their earnest money check with the title company office or transfer the funds via wire transfer. This is essentially a good faith payment showing the buyer is serious about moving forward. The earnest money will be credited towards the buyer’s down payment at closing. Once the earnest money is dropped off, we will let you know. The title company holds the payment in escrow simply because their office can act as an unbiased 3rd party should a dispute come up between the buyer and seller and the buyer asks for the earnest money to be returned. 

Once the earnest money is received, we will mark the property as Pending in the MLS, cancel any future showings and cancel any upcoming open houses. The next step is the inspection process, which usually takes between 5 – 10 business days (see your contract for the exact number of days).

Questions about selling your Lafayette, Colorado home? Reach out to the Appreciate Realty CO agent you are working with directly or call us at (303) 956-4948 or email us at hello@appreciaterealtyco.com