I never consider a property sold until the final check clears.
Unfortunately others buyers get scared to make offers because of an unqualified offer. Realtors love to advise "pending offer".
Realtors always push for a earnest money deposit of $500-$1000, thats bullshitz. I to see a check for $5000-$10,000 depending on value. I always right into the offer contract/counter offer that the property will be available for additional offers that can be accepted if they exceed the current offer. You can make qualifying benchmarks to accept an exceeding offer.
I refuse to accept an offer with earnest money that is low and only ties up your potential sale. Whether it is a sale through realtor or you direct, state $5k earnest money required. It scares those way who can't finance, and it gives you a chance to negotiate a new earnest $$ money amount face to to face ...
Sorry, if someone can't write a earnest money check for $3-$5k, they can't finance ...you can still allow for a lower amount, just make them prove ability to finance at least 60-80% of the sale within 10 days with a bank letter.
Too many people playing the margins of their financial ability these days ...