Submitting your Earnest Money Deposit (EMD)

If you are purchasing a property with Legacy Title, you will likely need to send money to Legacy Title for your Earnest Money Deposit. Please follow the below instructions oh how to submit funds and the EMD Agreement that is required.

 

How to Submit your Funds:

Earnest Money Deposits can be submitted to Legacy Title in the following ways:

  • Using LegacyPay

    • This is a secure payment platform that will connect your bank to ours and allow you to submit Earnest Money Deposits 24/7.

    • The fee for LegacyPay is $9 per transaction.

  • Using Certified Funds

    • This Certified Funds check can be mailed or delivered in person to any of our locations.

    • The Payee must be Legacy Title Agency

    • What are Certified Funds and How do I get Certified Funds? Certified funds are guaranteed forms of payment. You can obtain certified funds from your bank or credit union by requesting a cashier’s check or certified check made payable to a specific person or company, such as for your EMD to Legacy Title Agency.

    • Banks and other financial institutions may charge a fee for this check which usually ranges from $10-25.

  • Using a Wire Transfer from your bank to send your funds directly to Legacy Title Agency.

    • Request wire instructions by calling our mainline or have them sent to you via our secure online portal.

    • Banks and other financial institutions may charge a fee for a wire which usually ranges from $25-45.

  • Using a Personal Check

    • This Certified Funds check can be mailed or delivered in person to any of our locations.

    • The Payee must be Legacy Title Agency

    • We do not accept Personal Checks for an amount larger than 20% of the purchase price of the home.

Earnest Money Deposit Agreement:

  • If you are submitting your EMD to Legacy Title Agency, you will need to have all buyers and sellers sign our EMD Agreement form.

  • This document is required to create a contractual relationship between Legacy Title, the Buyer and the Seller which determines how we hold your funds and when/who we are permitted to release them.

Please Note that most EMD funds are deposited and received by Legacy Title Agency well in advance of closing. For all EMD funds submitted to Legacy Title Agency, the funds must actually clear the Legacy Title Agency escrow account prior to being applied towards their funds for closing.

  • Legacy Pay - from the time you submit the payment to the time your funds clear our account is usually 2 business days, but your transfer is visible to us immediately, and you will receive an email confirmation immediately showing your submission.

  • Wire Transfers - from the time your bank submits the wire transfer to the time they clear our account is usually 1 hour to 1 business day

  • Certified Funds - from the time you hand the check to us to the time funds clear our account is usually 2 business days

    • If the check is being mailed, please account for mailing delays

  • Personal Check - from the time you hand the check to us to the time funds clear our account is usually 10 business days

    • If the check is being mailed, please account for mailing delays