Ask us about Earnnest, our new EMD tool!

This message is for our Realtor friends out there! You may have already noticed this on our new website, but it’s time to make the announcement. When you work with an office from the Title Resource Network, you now have access to Earnnest. What's that? It’s an online Earnest Money Deposit tool that can help you get your money faster and generally make life easier!

Check out this video for more. Let us help move the money involved in your transaction in a hassle-free, secure and fast way with Earnnest. Ask your local office for more information.

We know. Some of your customers may be asking, "What is an Earnest Money Deposit anyway?" You've probably already addressed it, but if not, here's a good primer:

An EMD is an upfront payment that accompanies a purchase agreement. It signals to the seller that the buyer is serious about the offer and committed to moving forward. This deposit gives the buyer a financial stake in the process while both sides complete due diligence. Typically, an EMD ranges from 1% to 2% of the property's sale price, but it can vary.

The funds are placed in an escrow account, which we’re happy to manage for you, and are applied to the down payment/closing costs at settlement. If the inspection or our title search uncovers issues, the buyer is usually entitled to a full refund of the EMD and often can back out of the contract. On the other hand, if the buyer backs out for a reason unrelated to the property, the seller is generally allowed to keep the deposit.

Have questions about EMDs or anything else escrow-related? Reach out to your local office or check out this article.