Upcoming Closing but EMD Exceeds Commission Due to C21 Redwood (Overage)

This guide provides instructions when an EMD amount exceeds the commission due to Century 21 Redwood Realty for an upcoming closing.

There are instances where the Earnest Money Deposit (EMD) that we are holding exceeds the commission due for an upcoming closing.

For example:

• EMD – $15,000
• Commission: 2.5% of $400,000 = $10,000
• $15,000 (EMD) – $10,000 (Gross Commission) = $5,000 (overage)

If this is the case, please notify the Processing Department (email: processing@c21redwood.com) that an overage needs to be sent to the Title Company (provide the Title Company name, Title Company contact name, email address). We will contact the Title Company to obtain their Wiring Instructions and Preliminary Settlement Statement. If you received both of the documents, you may forward it directly to Processing@c21redwood.com. We will notify you once the wire is sent out.

***NOTES:

• This is not applicable on transactions where Highland Title is the Settlement Company as Processing/Commissions Team are working closely with them to ensure that funding is expedited on every deal.
• We will only send overage if the closing is within the next 3 business days as assurance that the transaction is “clear to close”
• Please allow up to 24 hours for the wire to be sent to the Title Company