Title: Describe the requirements of an earnest money deposit (EMD).
Course: Real Estate (12154) > Section: Examining Types of Mortgages and Deeds of Trust

Description should include information about a

- cashier’s check
- money order
- personal check
- cash
- promissory note
- timeline requirement of EMD delivery.

DPOR correlation: 18VAC135-20-400. 14 (Real estate financing)

Process/Skill Questions:

- Who holds the deposit?
- What constitutes a negotiable instrument?
- What are some types of negotiable instruments?