Earnest Money Requirements

The Arizona Department of Real Estate requirement is that escrow be opened within 1 business day of the contract date. If we are audited and found to be noncompliant, we will be fined $1000 per occurrance. This is a very important issue as ADRE sees it as evidence of our fiduciary duty of accounting.

Traditional Transactions:

Your earnest money receipt must be dated and submitted within 24 hours of the contract date.

Short Sale Transactions:

You must submit your "Agreement Notifications" to Sureclose for review. Your EM receipts must be dated and submitted within 24 hours of the Agreement Notification date.