Earnest money is typically sent into a trust or escrow account held by a real estate agency via certified check, personal check, or wire transfer.
The buyer will probably have broken the purchase agreement if they don't put the earnest money in the escrow account. In the event of a breach, the seller may be able to demand particular performance from the buyer or terminate the agreement altogether.
In California, buyers are typically required to give formal notice to the seller via a Notice to Seller to Perform before canceling. The subsequent written cancellation of the agreement and escrow.
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