When do I pay the down payment?
At closing — not when you make the offer. The only early money is your earnest deposit, which is credited back at the end. A few days before closing you'll get the exact cash-to-close figure, and you'll typically send it by wire or cashier's check.
At closing — the day you sign and get the keys — not when you make the offer. Buyers mix this up constantly, so here's the clean timeline.
The money timeline
- Offer accepted: nothing is due yet except your earnest deposit within a few days — and that's credited back to you at the end, not spent on top.
- Under contract: you'll pay for the inspection and possibly the appraisal as they happen — modest amounts, paid as services.
- A few days before closing: you receive the final closing statement with your exact "cash to close" — down payment plus closing costs, minus your deposit and any credits.
- Closing day: you send the total, typically by wire or cashier's check, and sign.
Two practical notes
Verify wiring instructions by phone with the title company before sending anything — impersonation scams are real. And keep your funds parked and papered in the weeks before closing: big transfers between accounts right before the finish line create documentation homework you don't need.
If the final number lands higher than you expected, options exist — but they work far better arranged early, so here's what happens if cash to close comes up short. When we work together, you'll know your number long before the wire, not the week of.
This answer is general education, not legal, tax, or financial advice. Your situation is unique — let's talk through the specifics together.