How Much Earnest Money Do You Need in Florida, and When Is It Due?

By Nelson Cruz, P.A. | October 27, 2026

How much earnest money do you need in Florida, and when is it due? Florida’s standard contracts do not set an amount. The earnest money, called the deposit in the contract, is whatever you and the seller agree to write in. The timing is set, though. Under the Florida Realtors and Florida Bar AS IS contract, if the blank is left empty, the initial deposit is due 3 days after the Effective Date, and any additional deposit is due 10 days after it. Those are calendar days, not business days. Missing either deadline can put you in default, and a seller can then keep the deposit.

How much earnest money should I put down on a house in Florida?

There is no required minimum. Paragraph 2 of the Florida Realtors/Florida Bar AS IS Residential Contract (ASIS-7x) leaves the dollar amount blank for the initial deposit and for an optional additional deposit, and together they are called the “Deposit.” The amount is part of your offer strategy. A larger deposit tells a seller you are committed, while a smaller one limits what you could lose if you default.

Buyers often think in percentages of the price. Here is what common percentages look like at two price points. These are examples, not a rule or a recommendation for any specific offer.

The deposit is not an extra cost. It counts toward your purchase price, so it reduces the balance you bring to closing. A common way to structure it is a smaller initial deposit, then an additional deposit due after your inspection period, when you have decided to move forward.

When is earnest money due in Florida?

Under Paragraph 2(a) of the AS IS contract, you check one of two boxes: the initial deposit either accompanies the offer, or it is made within a stated number of days after the Effective Date. If neither box is checked, the second option applies, and if the number of days is left blank, it is 3. Paragraph 2(b) sets any additional deposit at 10 days after the Effective Date if that blank is empty. The Effective Date is the date the last of the buyer and seller signs or initials and delivers the final offer or counteroffer (Paragraph 3(b)).

Standard F of the contract says calendar days are used to count time periods. If a deadline lands on a Saturday, Sunday or national legal public holiday, it moves to the next day that is none of those. That means “3 days” can be as short as three calendar days. Several online guides say “3 business days,” but the default in the contract itself is 3 calendar days, with only the final day able to roll forward.

In the Thanksgiving-week example, the holiday on November 26 does not pause the count. Only the final day moves, because it falls on a Saturday. A default 10-day additional deposit from that same Effective Date would land on Saturday, December 5, and move to Monday, December 7.

What happens if the deposit is late or the check doesn’t clear?

Paragraph 15(a) of the contract says that if a buyer fails to perform, “including payment of the Deposit, within the time(s) specified,” the seller may keep the deposit as liquidated damages or go to court to enforce the contract. Deposits by check are “subject to Collection,” and under Paragraph 13, “Failure of funds to become Collected shall not excuse Buyer’s performance.” In other words, a check that bounces does not stop the clock. If you are unsure whether you can get funds to the escrow agent in time, negotiate a longer deadline before you sign rather than hoping to make it.

Who holds earnest money, and how fast must it be deposited?

The contract names an Escrow Agent, usually a title company, closing attorney or real estate broker, and Paragraph 13 requires the agent to “deposit them promptly” and hold them in escrow within Florida. When a real estate broker holds the money, state rules add firm deadlines. A sales associate who receives a deposit must deliver it to the broker by the end of the next business day under Rule 61J2-14.009. The broker must then place it in escrow “immediately,” which Rule 61J2-14.008(3) defines as no later than the end of the third business day after receipt. Saturdays, Sundays and legal holidays don’t count as business days in those rules, according to Florida Realtors’ summary of Florida escrow laws and the text of Rule 61J2-14.008.

When the escrow agent is a title company or attorney, the buyer’s broker has a verification duty. The broker must request written confirmation that each deposit was received, then share it, or the lack of it, with the seller’s broker within set business-day windows, as explained by the Florida real estate law firm Berlin Patten Ebling. If the buyer and seller later both claim the deposit, Paragraph 13 lets the escrow agent hold it until they agree or a court decides, and a broker-held deposit goes through the state’s escrow dispute procedures.

Buyer checklist for your earnest money

• Before you sign, decide the initial and any additional deposit amounts, and make sure the cash is liquid now, not tied up in a transfer that takes several days.
• Check which box is marked in Paragraph 2(a) and what number is written in the days blank. Blank means 3 calendar days.
• Put the Effective Date, the initial deposit deadline and the additional deposit deadline on your calendar the day the contract is signed.
• Get the escrow agent’s name, address and phone number from the contract itself. Before wiring, call that office at a number you looked up independently to confirm the instructions, and never rely on wiring instructions from an email alone.
• Ask for a written receipt once the deposit is received.
• Know your exit windows. Your inspection period and any financing or appraisal contingencies determine when you can cancel and get the deposit back. See our guides on backing out after the home inspection in Florida and what happens when the appraisal comes in low.

If you are getting ready to make an offer in Central Florida, our team can walk you through the contract and your deposit deadlines before you sign.

Frequently Asked Questions

Is earnest money due in 3 business days in Florida?

Not by default. The Florida Realtors/Florida Bar AS IS contract makes the initial deposit due 3 days after the Effective Date if the blank is left empty. Standard F uses calendar days, and only a deadline that falls on a Saturday, Sunday or national legal public holiday moves to the next day that is none of those. The 3-business-day rule applies to the broker, who must place a deposit it receives into escrow by the end of the third business day.

Do I get my earnest money back if I back out?

It depends on why and when. If you cancel within a contract right, such as the inspection period or a financing contingency, and follow the notice requirements, the deposit is generally returned. If you default, including by failing to pay the deposit on time, Paragraph 15(a) lets the seller keep it as liquidated damages.

Is earnest money part of my down payment?

The deposit is credited toward your purchase price at closing, so it reduces the cash you need to bring. It is not an additional fee on top of your down payment and closing costs.

Featured image: AI-generated editorial illustration of a home purchase paperwork setting, not a specific property or transaction.