Illinois earnest money deadline
When the buyer's good-faith deposit has to reach escrow. Miss it and the seller may be able to cancel, so it's usually the first deadline on any deal.
Multi-Board Residential Real Estate Contract 7.0
Version 7.0. A Multi-Board 8.0 was published in 2025, so check which version you signed.
Earnest money tendered to escrowee
The form leaves the number of business days after the Effective Date blank, so it is whatever the parties negotiated.
The form leaves the number of Business Days blank. Enter what your contract says.
Source: www.borlanorth.com · checked 2026-10-16
If it falls on a weekend or holiday
- Earnest money tendered to escrowee: It does not move for weekends or holidays.
Most Multi-Board deadlines run in Business Days (Monday through Friday, excluding federal holidays), counted from the Date of Acceptance. Because weekends and holidays are skipped while counting, a business-day deadline never lands on one.
Worked example: Multi-Board Residential Real Estate Contract 7.0
Multi-Board Residential Real Estate Contract 7.0. Effective Date Friday, October 16, 2026. Calculated with the same rules as the calculator.
| Deadline | Date |
|---|---|
| Earnest money tendered to escrowee uses 3 days as a placeholder because the form leaves it blank | Wednesday, October 21, 2026 |
Negotiated a different number?
Change it in the calculator and every date that depends on it recalculates.
Open the Illinois calculatorFrequently asked questions
How is the "Earnest money tendered to escrowee" calculated on the Multi-Board Residential Real Estate Contract 7.0?
The form leaves the number of business days after the Effective Date blank, so it is whatever the parties negotiated. It does not move for weekends or holidays.
Do weekends count for this deadline in Illinois?
Most Multi-Board deadlines run in Business Days (Monday through Friday, excluding federal holidays), counted from the Date of Acceptance. Because weekends and holidays are skipped while counting, a business-day deadline never lands on one.
Something missing or incorrect?