In the magickal land of AZ, earnest money is typically wired into escrow directly from the buyer within a business day or two of full contact execution--a provision of the contract.
RARELY do we collect and deliver a check ourselves anymore. The title companies don't prefer it anyway. If we have to, we do.

Commercial leases? Deposit is submitted via cashier's check, attached to an ink-signed fully executed lease and overnighted to the landlord.

It is spelled out/defined in our California purchase agreement-- it's been quite some time since I have "handled" a buyer's earnest money deposit.

Chashier's Check

Money Order

Personal Check

Wire Transfer

EMD will be collected according to the instructions on the Executed Purchase and Sale Agreement.

Wire transfer to the escrow agent! Checks are a thing of the past!

We have not used check in my market for years!  A Check is an option in our purchase contract however the standard is that the deposit is wired to title within one business day after acceptance.

It's defined in the contract

Here the listing side takes the earnest money deposit when the listing side is a foreclosure. On straight sales we get a COPY of the deposit check & the money is usually held in escrow at the Buyer's Agent's Brokerage or by the Buyer's Attorney & is forwarded to the Seller's Attorney prior to closing.

Wired Funds Only

Due in 3 business days from acceptance.

We don't argue here about who holds the earnest money. We put it into the offer to purchase who will hold it and I've never had anyone challenge that aspect of the offer. We do have small firms which do not have escrow accounts so typically they want my firm to hold the money or they hand it over to the settlement attorney to hold. Again... makes no difference to me.

It’s spelled out in our contract. Normally funds (almost always wired) are due at escrow within 3 business days after acceptance.Our brokerage does not handle funds.

       I have the buyer wire the money, or take a check to, the Title Closing Office.  The Title Closer holds it.  If the deal falls through, the Title Closer gets signatures from both parties before releasing it.

      Florida Brokers are allowed to have an escrow account, but it is subject to random audit, strict rules, etc.  not worth the hassle.

The deposit has to be into the brokerage 48 hours after all subjects are removed, it is held in trust until closing.

that check should be in hand before a fully executed agreement is dispersed... then the check must be deposited immediately...

Technically here it's done after acceptance. BA brings to LA's which always seems to be a hassle. Some agents do bring it with an offer but that is hardly done now because of Docusign & stuff.

Wire transfers are too costly for $2 to $3K here. It's the old checks or cashiers check.

The EMD  on the Maryland contract is held by who is specified in the contract. It could be the Buyer's or Listing agent's Broker escrow account or the Title company who preforms the closing

Just like your market, Praful - With Contract ratification, the EMD is delivered to either the BA's brokerage (or the LA's brokerage if the BA's brokerage doesn't have a Trust account) or to the Closing attorney's office.

We do have the ability to allow 5 days for delivery of the EMD, per the Contract. With so many out of state buyers, I have that set in my ZipForms template. When we have a signed Cotract, they can drop the EMD & DD checks in the mail (overnight). That gives them plenty of time to get it in and not breach the Contract.

We prefer that EMD be deposited by buyer directly to escrow within the time stipulated in the agreement. We do not take possession of the EMD. We could, but would rather it go directly to escrow.

The buyer has 3 business days to bring the ED check to the title company (closer) or wire it directly to them.

Our contract calls for the deposit to be wired to escrow within three days of acceptance.  This is the default but it can be adjusted in the RPA.

No. Here all funds are provided to the attorney by the buyer. The buyer's agent has nothing to do with it.

1. EM has to be a certain minimal amount.

2. Must be deposited at escrow in any which way withing 48 hours, preferably 24.

Wired into escrow w/in 3 days.  They prefer not to have checks or cashier's checks or money orders because those still need to clear.  Wires are instant.

BA or LA can bring check to listing office ... or if same agency, can be deposited through buyer's office admin.  EM must be deposited by close of next business day.

R U talking about a Default ?

Whatever the contract says. We have the option to putting it into either account. It used to be the LO would receive the check, while 80 down the road the cooperating office would keep it. Now the attorneys here are advising to keep your clients' money so your office has the fund. It is all personal preference now.

Praful,

It goes to escrow

Wire transfer to the title company within 3 days of acceptance.

Bring to closing or subtract it from the commission check. 

It is done both ways, sometimes we have it as seller agent, others the buyer agent does. But 85% of our real estate sales are list it, sell it and no other trust account for it to land but our own. Small rural markets are like that.

The deposit goes to the escrow account of the broker.

Here the buyer or buyers agent deliver to the title company.

Generally the listing broker holds it in their trust account, and the state gets ALL of the interest.

there really isn't a "norm" in my market anymore and more and more firms are not having a trust account and having the closing attorney hold it.  But my office policy is we hold it for our buyers in our firm trust account.

Depending on the language you used on the contract, buyer may have a few days to get the funds to escrow, by way of a check or wire... in Hawaii.

I wrote a post about this topic, and judging from the varied responses here, you would be wise to write a post about the process in your area.

Yes that's the proper protocol here too.  However, many agents try to bring it to the title company.

Cashier Check 

Personal Check 

Wire Transfer

Money Order

Depending on what the circumstances dictates which one for us as a builder.

Buyers usually wire money directly to the Escrow of a seller choice after the accepted offer. Usually it is 3% of the purchase price.

No. Escrow receives the earnest money directly from the buyer within the time period negotiated in the purchase agreement. Almost all brokerages have eliminated client trust accounts and deal just with escrow for the handling of earnest money.

That is the beginning of the birth of a deal...No money no honey...

In Florida, the agent has to give the check to the escrow holder within 1 business day of receipt.

Same here.

We are more oriented to a wire transfer,

The listing Brokerage holds it in their sales escrow account unless otherwise greed upon by all parties involved.

In Colorado, generally the EM is held by a title company, and either the buyer's agent or buyer has to have it delivered within 3 days of an accepted offer.

In Florida , less and less brokers have an escrow account , so it is usually wired to title within 3 days after acceptance

I believe we have 3 days to deposit...usiness days.

Mine goes in right away unless other arrangements are made and ok'd with my client