10/09/2026
You write a check before you own the home. So where does that money actually go?
When your offer on a Palm Beach County home is accepted, one of the first things you may send is an escrow deposit, also called an earnest money deposit.
For many buyers, it’s the first significant money that leaves their account, so it’s completely fair to want to know what happens to it.
Here’s the simple version:
• It shows the seller you’re serious and helps strengthen your offer
• It does not usually go directly to the seller
• It is typically held by a neutral third party named in the contract, such as a title company, closing attorney, or broker escrow account
• At closing, it is credited toward the purchase, including your down payment and/or closing costs
Your contract also spells out:
• How much the deposit is
• When it is due
• Who holds it
• Under what circumstances it may be returned or released
That last part is why contract deadlines matter so much. Inspection periods, financing timelines, and other contingencies can affect how your deposit is handled.
And one more reminder: before sending any money, always verify wiring instructions by phone using a number you already trust.
Buying in Wellington or anywhere in Palm Beach County and want to understand the contract before you sign? Send me a message.
📞 561-236-9772
📧 [email protected]
🌐 rhondatownsendrealtor.livinginpalmbeachcountyfl.com
Rhonda Townsend