Transfer EMD from a Released Contract to a New Ratified Contract (EMD Transfer Letter)

This guide contains the standardized letter that purchasers can use to transfer their emd from a released contract to another.

This letter can be used if the following occurs:

1. Your client is under contract on property A and Redwood is holding the Earnest Money Deposit.
2. The contract for property A is fully released.
3. Your client goes under contract on property B right away.
4. Redwood has not yet released the Earnest Money Deposit from property A to your client.
5. Your client would like to apply the Earnest Money Deposit from property A to property B.

Resources:

• Transfer of EMD Letter - Docusign form (agent to fill out for clients to sign)