April 21, 2025: Earnest Money Explained: What Happens After Your Offer Is Accepted in Kansas City
Attention Kansas City Home Buyers: You’re Under Contract. Now What?
First off, congratulations! If you’re officially under contract on a home, you’re one giant step closer to unlocking that front door and calling it yours. But what comes next? At Nelson Home Group, Kansas City’s highest-rated real estate team, we walk our buyers through every single step between offer acceptance and closing day.
Today, we’re diving into one of the first big milestones in that process: the earnest money deposit, or EMD.
What Is an Earnest Money Deposit?
Think of an earnest money deposit as your way of saying, “I’m serious about buying this home.” It’s a good faith deposit that shows the seller you’re committed to seeing the transaction through.
✅ Good news: This isn’t an extra fee! It gets credited toward your down payment or closing costs when you finalize the purchase.
❌ Bad news (if you forget to pay it): Missing the deadline can put your entire contract at risk.
How Soon Do You Have to Pay It?
The deadline for your EMD is listed in your purchase contract, usually in the finance section under the agreed purchase price. It will state a specific number of calendar days from the date your contract is fully executed (that means all parties have signed).
💡 Important Tip:
Day 1 is the day after all signatures are completed, and yes, weekends and holidays count.
Example:
If your offer is accepted and signed on a Friday and you have 3 calendar days to deposit earnest money, your deadline is end of day Monday. That’s Friday (executed), then Saturday (Day 1), Sunday (Day 2), and Monday (Day 3).
How Can You Pay Your Earnest Money Deposit?
You have three main options, and each comes with its own pros and cons:
1. Check (Paper or Electronic)
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Pros: You can get a receipt right away if delivered in person.
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Cons: You’re limited to business hours of the title company or builder.
2. Online Payment
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Pros: Super convenient, especially on weekends or holidays.
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Cons: Your receipt might not be instant, but you should still get a confirmation message and monitor your bank account to ensure it processes.
3. Wire Transfer
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Pros: Secure and direct; your bank will give you a confirmation number.
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Cons: Still limited to bank hours, and wire fees may apply depending on your bank.
Don’t Forget: Get a Receipt!
No matter how you pay, always get a receipt or confirmation. You’ll need it for your records, and more importantly, for your lender.
What Your Lender Needs to See
Your lender must verify that your earnest money has cleared your account, so once it’s been withdrawn, send them your updated bank statement. And here’s a critical piece:
🛑 Use an account in your name that your lender already has statements for.
Money from a parent or someone else can work as a documented gift, but the gift letter and transfer evidence need to be cleared with your lender before anyone sends the deposit. I cover how that works in who writes the earnest money check and which account it should come from.
One Last Thing: Have Those Funds Ready
The title company or builder will cash the earnest money immediately, so be sure the money is already in your account before making the deposit. Overdrafting your earnest money payment isn’t just stressful. It can throw a wrench into your entire home buying timeline.
Buying a Home in Kansas City? We’ve Got You.
This is just Step 1 of many in the home buying journey. From inspections and appraisals to closing costs and moving day, Nelson Home Group is here to guide you with proactive support, clear communication, and local expertise that takes the stress out of the process.
If you’re getting ready to buy in Kansas City and want a real estate team that’s responsive, strategic, and 100% in your corner, let’s talk.
🏡 Nelson Home Group
📞 Kansas City’s highest-rated real estate team on Google
🗝 Ready to help you make your next move your smartest one yet
Looking for More Kansas City Buyer Tips?
Our blog is full of helpful breakdowns on every stage of the process. Keep exploring or reach out today to get started.
Frequently Asked Questions
When is the earnest money due?
The deadline is whatever your signed contract says, often within a few days of the contract being signed. Missing it can create a contractual problem, so put the exact date in your phone the day you go under contract.
Can I pay earnest money with a credit card?
Generally no. Escrow holders want a check, cashier’s check, wire, or an electronic transfer through their own portal. Beyond that, borrowing your down payment on a card creates a debt your underwriter will see and count against you.
Do weekends and holidays count toward the earnest money deadline?
Yes. The deadline is counted in calendar days, and Day 1 is the day after all parties have signed. A three-day deadline on a contract signed on a Friday ends at the end of the day Monday.
What is the best way to pay earnest money?
It depends on timing. An online payment through the escrow holder’s portal is the most convenient on weekends and holidays, though the receipt may not be instant. A wire is direct and comes with a confirmation number but is limited to bank hours, and a check delivered in person gets you a receipt right away during business hours.