GIDDYDIGS

How earnest money works

Earnest money is the good-faith deposit you put down to show a seller your offer is serious. It isn't an extra cost. It gets credited toward your purchase at closing.

After your offer is accepted, that money goes into a trust account (not to the seller directly). In Utah you generally have 8 days to get it deposited. Commonly thought of as up to 4 days to get it to your broker and 4 more for it to land in the trust account. Missing this deadline is one of the few things that can let a seller walk away, so it matters.

GIDDY DIGS tracks the earnest money deadline in your transaction view and marks it received once your deposit is confirmed, then lets the listing side know.

How much earnest money you offer, and how quickly it becomes non-refundable, also signals to the seller how committed you are. For exactly what's refundable and when, consult a licensed attorney.

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