EMD Funding in South Dakota | Swift Deal Funding
How EMD Funding works in South Dakota
EMD funding covers the earnest money deposit so you can secure a South Dakota property without committing your own cash. We send the deposit — usually $5,000 to $25,000 — to the closing attorney handling your transaction, typically within 24 hours of a complete application. The deposit stays refundable per your contract’s contingency terms.
South Dakota is a smaller, lower-volume market centered on Sioux Falls and Rapid City. When a wholesale deal does come together, EMD funding lets you put up credible earnest money while keeping your capital available — and with no minimum deal size, even occasional deals are worth funding through us.
How EMD funding closes in South Dakota
South Dakota is an attorney-closing state, so a closing attorney runs the file and holds funds in trust. That changes where the deposit goes, but not how it works:
- You submit the executed contract, the closing attorney’s contact, and your ID.
- We confirm with the attorney that the deposit is refundable per your contract terms.
- We wire the earnest money to the attorney’s trust account, usually within 24 hours.
- If the deal closes, the deposit is credited at closing; if you terminate inside the contingency window, it is refunded.
Pricing
Two options on every EMD, the same in South Dakota as everywhere:
| Option | Upfront | At Close | Best For |
|---|---|---|---|
| A | 5% of EMD (min $500) | 20% of EMD | High close-through rates |
| B | 10% of EMD (min $1,000) | 0% | Predictable per-deal cost (most popular) |
A typical $8,000 South Dakota EMD under Option B hits the $1,000 minimum, paid once, with nothing due at closing.
What you’ll need
- Fully executed purchase contract with refundable EMD language
- Closing attorney contact information
- Written confirmation from the attorney that the EMD is refundable per contract terms
- Your photo ID
No credit check, no income verification, no tax returns.
A typical South Dakota EMD scenario
A Sioux Falls wholesaler ties up a home and needs $6,000 earnest money to satisfy the seller, but wants to keep cash free. We confirm the deposit is refundable through the inspection period and wire $6,000 to the closing attorney’s trust account within 24 hours. Under Option B, the wholesaler pays the $1,000 minimum once. The wholesaler markets the deal and assigns it to a local landlord before the contingency expires, with the funded deposit credited at closing.
Apply
Submit your contract and closing attorney contact online — usually under 10 minutes. Same-day wires are available for complete files in before 11 AM Eastern. We coordinate directly with your attorney.
Frequently Asked Questions
Where does the earnest money go in a South Dakota deal? +
To the closing attorney's trust account, since South Dakota is an attorney-closing state. Rather than wiring earnest money to an escrow-only title company, we send it to the attorney handling your closing — or to the title company they direct, per your contract. Give us that contact when you apply and we coordinate the wire and written confirmation the deposit is refundable. The attorney's trust account holds the deposit until closing or termination.
Is EMD funding worth it on a smaller Sioux Falls deal? +
It can be. South Dakota deals tend to be smaller, so earnest money is often at the lower end of our $5,000 to $25,000 range, and our pricing scales with the deposit. The value is keeping your own cash free while you tie up a property and find a buyer. There is no minimum deal size or monthly volume, so even an occasional Sioux Falls or Rapid City deal is worth funding through us if it keeps your capital working elsewhere.
Will my South Dakota earnest money be refunded if I cancel? +
Yes, as long as your contract makes the deposit refundable — typically through an inspection or due-diligence contingency. We require written confirmation from the closing attorney that the EMD is refundable per your contract before funding. If the deal closes, the deposit credits at closing; if you terminate within the contingency window, it is refunded from the attorney's trust account. Confirm your contract's contingency terms with your attorney.
Apply for EMD Funding in South Dakota
Submit your application online — same-day decisions for complete files before 2 PM Eastern.