One of the main red flags for fraud is earnest money deposit checks. Anytime anybody gives you a check, if you’re a Realtor keeping it in your escrow or closing attorneys, we’re on the look out for it also, is they deliver it to your office and you deposit it, and then they immediately ask for funds before it has “seasoned”.
Know that you can pull back a check. You should wait the ten to twelve business days. If you talk to your bank they’ll tell you the amount of time before that check can be pulled back. They make this as an emergency that you’re to release it not soon after depositing it. That is a very regular way that the fraudsters are out there. Look out for that.