In addition, a buyer can make all or a portion of the earnest money nonrefundable. Tips and Insights: The Utah real estate market can be competitive, and making your offer stand out is vital.Earnest Money Deposit. Each time you offer to purchase a home, you will place a deposit with our brokerage as collateral to your offer. In the form of a cashier's check or wire transfer. An earnest money agreement is a legal document that outlines the terms between two parties, typically for the purchase and sale of real estate. One crucial area is managing the earnest money deposit. This deposit, made when an offer is accepted, must be handled properly. For example, there is something called an "earnest money deposit" that must be included in any contract written. The buyer may then terminate the contract and have their earnest money returned as a result.