Your earnest money check is generally held by your buyers agent until the contract is accepted. Once the contract is accepted, the buyers agent must deliver the earnest money check to the listing agent, or their title company. Once this happens, the earnest money check can be cashed at any time. You can expect that the earnest money check will be cashed within three days of contract acceptance.
If you would like more time, you can negotiate with the sellers using the “alternate earnest money deadline” on the Colorado contracts. If an agreement is made, the earnest money would be due to the listing agent / title company on the date of the alternate earnest money deadline. If you were to fail delivering the earnest money by this deadline, you would be in default on the contract.
If the contract is not accepted, your buyers agent should return your earnest money check to you.
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