🧠 Carolina Elite Real Agent Scenario
Earnest Money That Never Showed Up
🏡 Scenario
You’re under contract. Earnest money is supposed to be held by the closing attorney.
Buyer says:
“We sent it.”
You assume everything is good… and never verify.
💥 What Happens
Deal moves forward… then falls apart.
Now everyone asks:
👉 “Where’s the earnest money?”
Attorney says:
“We never received it.”
The Problem: The Commission has seen several recent cases where licensees failed to verify that these funds actually reached the outside agent.
⚖️ What This Means
Per SCREC:
👉 You are responsible for making sure earnest money is actually delivered
Not assumed.
👉 Verified.
✅ What You Should Do Every Time
Before moving forward, get written confirmation from the attorney that funds were received.
That confirmation needs to include:
- Property address
- Buyer name
- Amount
- Date received
Save it in your Dotloop file. Here is what attorneys will send.Copy of Weeks Law Firm acknowledgement:
Click HereCopy of Browder Law Firm acknowledgement:
Click Here
💣 Bottom Line
If the money never shows up and you don’t have proof you followed up…
👉 You could be on the hook.
Also dropping the new LLR Legal Guidance Alert here for you to review:
CLICK HERE
