When is the earnest money typically required to be deposited?

The correct timing for the deposit of earnest money is typically outlined as being within 48 hours after signing the purchase agreement. This timeline is important because it establishes the buyer's good faith in committing to the purchase of the property and demonstrates serious intent to follow through with the transaction.

By requiring the earnest money deposit shortly after the purchase agreement is signed, both parties are protected: the seller can be assured that the buyer is serious, while the buyer is also motivated to see the transaction through in a timely manner. This period is commonly referenced in real estate contracts and practices to ensure that all parties have a clear understanding of their obligations right after an offer is accepted.

The other options do not align with standard practices. Depositing earnest money after the seller's acceptance or at closing does not establish the same immediate commitment from the buyer. Waiting a week after the offer submission may result in a lack of assurance for the seller and could potentially jeopardize the transaction. Thus, the standard timeframe helps maintain an efficient and professional real estate process.