In almost all real estate transactions the seller will want the potential buyer to deposit a certain amount of money in an escrow account with a title company. The amount is negotiable between involved parties and is part of the contract. The earnest money is customarily due within 48 or 72 hours via wire transfer to the title company’s escrow account. It serves as a show of sincerity and financial ability by the buyer.

Imagine we are dealing with one of aspens larger homes in the $10 million price range. Apart from the fact that it would be prudent for the agent to have some sort of proof of financial ability before even writing an offer, the seller wants to know that the buyer is financially capable of handling a transaction of this magnitude. It would not be unreasonable to set the earnest money for this transaction at $1 million.

If the buyer has that kind of cash he is most likely capable of finding financing or is even able to pay cash. The seller would not take the property off the market for several week just to find out that some dreamer has played games with him and is completely out of his league to attempt to buy his property.