Transaction Type Earnest Money Required
Sales Price: $50,000 or less = $500
Sales Price: $50,001 – $249,999 = $1,000
Sales Price $250,000+ =$2,000
Vacant Lots = 50% of Sales Price
Good Neighbor Next Door = 1% of Sales price (min of $500, max of $2,000)
HUD Approved Non-Profits = No EM required
It should be delivered to the Listing Broker within 2 business days of Bid Acknowledgement along with a copy of the HUD-9548 sales contract and the BSCA addendum.
This should be made payable to buyers title company. Certified funds only.