Our earnest monies and due diligence fees are typically paid by personal check here. Every so often, someone does a cashiers or certified check.

Personal checks from those over 40, certified checks from the millennials!

Deposits are commonly wired in these days. Promissory notes are not used in my area at all. Otherwise, locally, a personal check is fine, unless dealing with REO/OREOs where sellers may require a cashier's check.

We stopped using promissory notes years ago and will only accept a check or money order.

Our title companies only accept a check, or a money order.  

We still use checks which clients have to find in some drawer. I can't even remember how to write a promissory note.

Cashier's Checks, money orders, bank draft, some kind of depositable into a bank account form of payment (but no CASH) or wire for those that don't have checks. Around here, Promissory Notes are received as indication as not only not having checks but more so as not having any money. Not a good way to impress a seller in a strong seller's market competing against other offers.

I would laugh at a promissory note or a cashiers/bank note. Cash, personal check, wire or nothing.

They can purchase money orders if checks are not available. 

Most use checks

Does a promissory note have the same value as a check that hasn't cleared the bank yet? Most agents here send a copy of a check with offers. It's rare that a check bounces though. Some buyers prefer to have the title company hold the EMD.

I encountered my first buyer without checks a couple of weeks ago.  However, my brokerage can do electronic transfers so we can still collect earnest money.

I prefer a wire transfer to a title company with the title company providing proof of receipt!

Mostly checks or money orders.

Typically a check; occasionally it's in the form of a bank check (& not personal). 

I've never encountered a promissory note as earnest money. Most buyers now do a wire transfer or they deliver a check. 

Electronic funds transfer is the way to go now.

Technically cash is a promissory note. We require a check for 1st deposit and a certified bank check for the 2nd. I'm still waiting for someone to pay in silver and/or gold coins/bullion

they use checks.... 

Paul,

Checks usually.  One time, it was a suitcase of cash.  Luckily the bank was on the ground floor of our 12 story office building.  LOL A

Interesting Paul. That's an older expression....  A check is a promissory note. What other instruments that conveys funds and cashable were you thinking about?

Most often it is still a check and those cases they bring in a cashiers check. No issues so far

What I have seen has been personal checks.

We use checks.

Good topic to explore....

Personal checks. Fidelity refuse to accept Allipay, Apple Pay.  Most unsuccessful bidders do not even bother to pick up their EMD.

Hi Paul - I don't recall hearing of an example of a "promissory note" as an earnest money deposit in my experience.  Unless it's a lease, most funds are handled through escrow via checks or via wire transfer.

Have not seen PN's as earnest money deposits. Kind of defeats the purpose if it's just a "promise to pay"  - we want to see the money in the account!

Paul S. Henderson, REALTOR®, CRS the only time I used a promissory note was when I was working with young buyers who had no money.

We accept: Personal Checks, Cashier's Check, Money Orders, and wire transfers. 

Our escrow companies prefer wire transfers

We use checks and most people here have checks.  If they don't, we can use money order or cashier check.

I've been out of the loop so long I have no idea what the norm is anymore, Paul.

In my market they are typically paid by personal check. If the client does not use personal checks then a cashier's check.

Most of our clients will drop off a check or a money order of sorts. 

Very rarely do checks get used.  I think twice in the last 5 years.  The purchase contract out here defaults to wiring the money and you have to go out of your way to select cashier's check or another option.

Either a personal check or a cashier check!

Wiring money is the growing trend because most do not have paper checks anymore. Of course,  a certified check can be done at any local bank.

check, cash or wire.

Some markets do not require earnest money. Where it is I do require a check or money order. 

Funds are wired to escrow.  

Check or Wire transfer, I agree most buyers do not have checkbooks.

Escrow deposits are often made by wire these days. Cashiers checks are still used. Personal checks, too.

I would not be accepting of a deposit made by promissory note. That would be a promise to make a deposit instead of actually making the deposit.