Earnest Money Payments
When you close your real estate transaction with Sherman & Phalen, you can trust us to safeguard your earnest money. We have several ways you can pay securely to keep your transaction on track.
Payment Portal for Earnest Money Up to $10,000
If the earnest money is $10,000 or less and your closing is more than a week away, you can pay online through our Payment Portal.
A $15 service fee applies. You’ll get instant email confirmation. It’s for bank account (ACH) payments only.
Other Payment Methods to Ensure Your Closing Happens on Time
If your earnest money is greater than $10,000 or you need to make any other payments, you can follow the directions below. We’re an experienced real estate closing firm and ensure that our transactions have “good funds” so that you can close on time. Georgia law (O.C.G.A Section 44-14-13, the “Good Funds” law) requires all funds to be received by the closing attorney in excess of $5,000.00 be “good funds,” and we ensure that by accepting the following payments:
- Payments up to $2,000: Personal checks accepted
- Amounts above $2,000 to $5,000: Cashier’s Check issued by a local or national bank or credit union accepted
- Amounts above $5,000: Pay by wire or use our Payment portal if $10,000 or less.
Always Confirm Wire Instructions by Phone
To protect against wire fraud, always speak with the paralegal handling your closing to confirm our wire instructions. Our paralegals’ contact information can be found here.
Other Questions?
Let us know how we can help. We take pride in doing things the right way—with accuracy, responsiveness, and the kind of personal service that means you’re never left wondering where things stand.
At Sherman & Phalen, our real estate closing firm works with investors, lenders, and homebuyers to help their real estate transactions run smoothly. We have handled thousands of closings across Georgia and the Southeast and your closing matters to us. Call us or contact us today.
