Earnest Money protects the seller if the buyer backs out and is typically around 1 - 3% of the sale price. Earnest money helps insure to sellers that you, as a buyer, are not making offers in multiple homes and will not walk away from purchasing their home once they take it off the market. The money is held in an escrow account until the home buying process is complete. 

If the purchase goes smoothly, the earnest money is applied to the buyer's down payment or closing costs. If the home sale falls through due to a failed home inspection or any other contingencies listed in the contact, the buyer is returned their Earnest Money. 

If you would like our firm to hold your earnest money, we accept earnest money in the following forms: 

• Wires

  • Please contact our office to request our wiring instructions. 

• Certified check, personal check, or money order made payable to Shipman Miranda Law LLC. 

• Earnnest App

  • Your realtor can provide you with a link through earnnest.com 

​

Please note that ACH and Zelle deposits are not accepted by our firm. 

​

Earnest Money Payment Portal