Earnest Money Deposit

SUBMIT YOUR Earnest Money Deposit ELECTRONICALLY

We are pleased to introduce the newest option for earnest money - electronic delivery! This new feature allows for a fully digital transfer of funds and will save you - and your clients - time.

Benefits to Using Our Fully Digital Transfer of Funds

No more racing to the title office to deposit your funds in 72 hours

No more waiting on wiring instructions

No more trips to the bank

CLICK YOUR LOCATION BELOW TO SEND YOUR EMD.

REQUIREMENTS: To complete a fully digital transfer of your EMD, you will need the checking account number and routing number. This feature can be used for EMD amounts $15,000 or less.

Brentwood Office Mt. Juliet Office Hendersonville Office Dickson Office Clarksville Office Cookeville / Crossville Knoxville Office Murfreesboro Office Tri Cities

Frequently Asked Questions

What Is Earnest Money?

Earnest money is a payment made by a homebuyer to show to the seller that he or she is serious about buying.

When Do I Pay Earnest Money?

The timing of your earnest money payment is generally stated in your contract. In most cases, earnest money is due simultaneously with, or shortly after, the contract is signed by both buyer and seller.

Where Does The Earnest Money Go?

Typically, earnest money is held by a third party called an “escrow agent” or “escrow holder.” The escrow holder may be a title company, a real estate office, an attorney’s office, or any other party designated in the contract.

Does Earnest Money Count Towards The Cost Of The House?

In most cases, homebuyers receive credit for their earnest money deposit at time of closing.

Why Would Manual Verification Be Required?

Buyers may require manual verification for the following reasons:

  • • A buyer did not use his or her legal first or last name.
  • • A buyer recently moved so the system cannot match the address provided with the address on public record.
  • • A buyer mistyped their name, address or SSN.
  • • A buyer provides ITIN instead of SSN.
  • • A non-valid document was uploaded like an expired driver’s license, nonofficial form of ID or identification document containing a blurry photo.
Are There Additional Options for Me to Deliver My EMD to Tennessee Title?

Yes, you can provide a check or send a wire. For additional information on these options, please contact us.

Can I Use This Same Electronic Delivery Option to Send My Closing Funds?

At this time, no.

What Is the Verification Process?

Most buyers will be verified by providing basic information such as:

  • • Last four digits of their Social Security Number (SSN)
  • • Current address
  • • Legal first and last name If the above information does not satisfy our verification score, then a buyer will provid their full SSN. For the less-than-10% of buyers whose full SSN does not satisfy the verification process, our system will ask for a valid form of identification. These are: U.S. passport, State-issued I.D, U.S. driver’s license Finally, if automatic verification is not possible we can manually verify.