Wholesaling and the nonrefundable deposits
Concerning wholesaling and the nonrefundable deposit:
1.) Why do wholesalers implement these (especially if the deal is a legitimate deal)?
2.) How can a new real estate investor convince a wholesaler that a nonrefundable deposit is actually bad for business?
My feeling is that if a wholesaler truly has a deal, a nonrefundable deposit is unnecessary and redundant. I see them everywhere here in Dallas and many of the deals are actually not deals (some are even MLS listed). Just wondering how an investor might get around these.