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If the sale successfully closes, the title company credits the earnest money to the seller. If the sale terminates without closing, the title company releases the earnest money to either the buyer or the seller, depending on the terms of the contract and the circumstances that led to the termination.

Commercial buyers and sellers may use the Commercial Contract Amendment (TXR 1932) to change the terms of a Texas REALTORS® commercial contract form. The parties can use the form to adjust the sales price, property description, seller's repairs, feasibility period terms, financial deadlines, closing date, and expenses.

A release of earnest money form is a waiver signed by both the buyer and seller before an earnest money deposit towards a property may be released.

The earnest money typically goes towards the buyer's down payment or closing costs. It is refunded to the buyer only upon certain contingencies specified in the contract. If the buyer cancels the contract outside of the contingencies, it is released to the seller.

A Contract termination and release of earnest money agreement serves to terminate an existing contractual relationship between a seller and a buyer, and provides for a release of any earnest money put up by the buyer. Upon full execution, both parties shall be released from any further obligations under the contract.

Release of Earnest Money The buyer, seller, and their agents must all sign the release before the title company will cut a check. Once the title company who is holding the earnest money has received the release, they can write a check available for pickup or mailing.