Georgia Homebuyers: Earnest Money and Deadlines

After a Georgia home offer is accepted, turn the signed agreement into a calendar immediately. Record when the earnest money must reach its holder, when investigations and any related notice must be completed, the separate financing and appraisal requirements, and the closing date. Book the work early enough to make a decision before the deadline, not merely receive a report on the last afternoon.

These are different milestones. Paying earnest money does not complete due diligence. Ordering an inspection does not extend a contractual decision period. A lender's progress update does not resolve an unanswered contract notice requirement.

Start with the agreement you actually signed

Have your agent and, for legal interpretation, your attorney identify the binding date, incorporated exhibits, amendments and special stipulations. For each time-sensitive obligation, record the event that starts the clock, the date and time it ends, the required action, the recipient and the permitted delivery method. Check how the agreement counts days rather than assuming weekends are excluded.

The Georgia Association of REALTORS forms inventory lists its Purchase and Sale Agreement, F201, with a June 1, 2026 revision. That identifies an edition, not the terms of your transaction. Georgia purchases may use other agreements, and completed blanks, exhibits and negotiated changes matter.

Ask three concrete questions before you rely on a contingency: What lets me act? What must I do to exercise it? What happens if I miss it? Keep the answers with the signed documents. If the language is unclear, obtain an attorney's interpretation while there is still time to respond.

Deliver earnest money to the named holder

Earnest money is a purchase deposit held under the agreement; it is not an extra fee automatically lost or automatically refundable. Georgia's consumer guide to making an offer describes the role of the deposit and contract contingencies. Your agreement determines the amount, holder, delivery deadline and consequences of failing to deliver it.

Confirm the recipient and payment method before sending money. Keep the payment receipt and obtain confirmation from the holder. A payment initiated through a bank and a payment received by the designated holder may occur at different times, so ask which event satisfies your agreement and leave a margin for processing.

The buyer's delivery obligation is separate from a broker's handling duties after receipt. The Georgia Real Estate Commission's earnest-money guidance explains that a salesperson must turn funds over to the broker as soon as practicably possible. Its discussion of Rule 520-1-.08 distinguishes that custody and trust-account responsibility from the collection arrangements written into the purchase agreement. Do not turn a broker-handling rule into a universal buyer delivery deadline. If a closing attorney or another authorized holder is named, confirm that holder's instructions directly.

Use due diligence to reach a decision

Schedule the general inspection early, then allow time for specialist follow-up if the report raises a consequential question. A moisture finding may require a further investigation and a repair estimate before you can evaluate the risk. Also investigate matters that a general inspection does not settle, such as title restrictions, planned alterations, insurance availability and association obligations.

The CFPB's inspection guidance recommends prompt, independent inspection and distinguishes an inspection from an appraisal. The first helps you understand condition; the second serves a different valuation purpose. Neither appointment alone tells you whether a contractual right has been exercised.

By your internal decision date, identify what you can accept, what you want changed and what remains unresolved. A repair request is a proposal. Do not assume the seller has accepted it, or that discussing it has extended a deadline. Have any agreed change documented in the required manner.

An example: leave time between the report and the decision

Suppose a hypothetical agreement makes earnest money due on Day 2, ends the buyer's due-diligence decision period on Day 10 at 5 p.m., has a separate financing deadline on Day 18 and schedules closing for Day 30. These are assumed terms for this illustration, not standard Georgia deadlines. The actual calendar dates would be calculated from that agreement's definitions.

Milestone	What this buyer does
Day 0: agreement becomes binding	Confirm dates, holder and notice requirements; book the inspection.
Day 2: earnest money due	Complete delivery in the required way and confirm receipt.
Day 4: inspection	Attend if possible, review the report and arrange needed follow-up.
Day 7: follow-up findings	Obtain the specialist's answer or estimate and decide which issues matter.
Day 9: internal decision	Review the options with the agent and attorney; seek any needed agreement or prepare the required notice.
Day 10, before 5 p.m.: assumed contractual cutoff	Complete the action required by the agreement; retain the notice and delivery record.

If the specialist cannot report until Day 12, the problem is visible on Day 7. The buyer can seek an appropriate extension before the current cutoff or make a decision with the advice and rights available. Waiting for the report without resolving the timing would leave the contractual deadline unanswered.

Keep loan and closing tasks on their own calendar

Financing approval, appraisal conditions and the rate-lock expiration can each require action while inspections are underway. Ask the lender what remains outstanding and who is responsible for it. Match that information to the relevant financing and appraisal provisions; a completed inspection does not protect a separate loan-related deadline.

For a more detailed loan checklist, see DreamSmith's Cumming financing-deadline guide. Keep the closing attorney informed if an unresolved condition could affect settlement.

For most covered mortgages, the Closing Disclosure must be provided at least three business days before closing. That federal disclosure timing is distinct from the purchase agreement's due-diligence or financing deadline. Review the amount still due, deposit credits, loan terms and fees with the lender and closing professional; ask how any correction affects the planned closing.

Understand termination and release as separate steps

An inspection concern, a termination notice and the release of earnest money are not the same event. Your attorney can advise whether a contractual termination right exists and how it must be exercised. The holder then needs an appropriate basis to disburse the funds.

For a broker-held deposit, the Commission's guidance makes clear that disbursing contrary to the escrow contract violates the broker's duties. Ask the holder what documents are needed, who must provide them and when a release can occur. If the parties disagree about entitlement to the money, obtain legal advice rather than treating the refund as settled. Do not spend an expected refund before its status is confirmed.

Before any wire, verify the instructions using a trusted phone number established independently of the message requesting payment. The CFPB's mortgage-closing scam guidance explains why last-minute emailed changes deserve particular caution.

Bring one working calendar to your purchase

Keep the signed agreement, amendments, inspection appointments, lender conditions, payment confirmations and notices together. Assign a person to each next action and set an earlier reminder for anything that needs another party's response. Update the calendar when a valid amendment changes a date; keep the prior document rather than relying on memory.

Plan your Georgia purchase timeline with Ashley Smith. Bring the signed agreement or the proposed terms, your inspection schedule and the lender's outstanding items so you can coordinate the next steps before time becomes the problem.