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Frequently Asked Questions
Answers to common questions about our Earnest Money Deposit (EMD) funding process, rates, and application.
Find clear answers to common questions about our Earnest Money Deposit funding process, rates, application steps, and how we help wholesalers secure deals with confidence.
Yes, if the property is located in a mutual release state. In that case, a Seller’s Addendum must be signed agreeing to release the Earnest Money Deposit (EMD) if the inspection clause is invoked.
The mutual release states are Alabama, Colorado, Florida,, Georgia, Indiana, Massachusetts, Minnesota, Missouri, New Jersey, North Carolina, Ohio, Oklahoma, Oregon, Tennessee, Texas, Wyoming.
Ideally, this Addendum should be signed before applying for EMD funding. The signed Addendum can be uploaded in the application form.
If you do not already have an Addendum form, one can be downloaded from this link.
Funding typically takes 2–5 business days, depending on how quickly all parties respond. In some cases, funding may happen sooner, but it generally does not exceed 5 business days.
The process is as follows:
Buyer completes the application
Terms are discussed and agreed upon
EMD release documents are sent to the buyer for signature
Signed documents are forwarded to the Title Company or Attorney
Buyer submits the upfront EMD processing fee
After all parties agree and documents are signed, EMD is funded to escrow
Yes.
For EMD loans:
Under $5,000 → $250 upfront fee
Over $5,000 → 5% upfront fee
Upfront fees are payable via Zelle (fastest method) or wire transfer once the loan is approved.
The EMD upfront fee must be paid before funds are sent to escrow. You will receive full payment instructions after approval.
Whether the deal closes or not, the contract requires the borrower and/or Title Company to repay the EMD.
If the deal does not close, the remaining transaction fee will not be charged. Any extensions, late fees, or penalties (if applicable) will be clearly outlined in the contract.
Yes. You may upload your purchase contract and, if required, a signed Mutual Release Seller Addendum directly within the application form.
Alternatively, documents may be emailed to the address listed on the application.