Earnest Money Release Procedures and Requirements

Earnest Money release requirements and procedures

To have Earnest Money released via a cancellation or any other reason the following must occur:

1. The broker must review the entire REPC and any addenda to confirm the details of the release comply with the contract requirements.

2. Agent shall submit for review through Command all of the pertinent documents including the cancellation.

3. Agent shall provide instruction when submitting to include who the EM check should be going to and how they’d like to receive it. i.e. pick up at the office, mailed or wired. If wired we will charge a wire transfer fee to accommodate.

In the event a “Resolution of Earnest Money Dispute” form is submitted the broker will be unable to release the Earnest Money until the dispute form is accepted by all parties or an arbitration or mediation ruling is issued. (Earnest money Dispute form attached)RESOLUTION-OF-EARNEST-MONEY-DISPUTE.pdf