Please have your buyer obtain an escrow check with the following suggested procedure. Please note the process is different based on the specific asset manager. THEY ARE NOT THE SAME FOR EVERY PROPERTY. Please review the specific instructions by downloading the appropriate Asset Manager letter from either the listing documents at HUDHomeStore.com, the Asset Manager’s website or inquire with WILMOTH Group if not found in the other areas.
Earnest money (escrow) checks are $500 if the contract price is under $50,000. $1000 for $50,000 and over.
Escrow checks are supposed to be in the agent’s hands when agent submits a bid. These checks need to be in the form of a cashiers or certified funds.