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Updated almost 2 years ago on . Most recent reply

User Stats

49
Posts
14
Votes
Alexandra King
  • Real Estate Agent
  • Santa Barbara, CA
14
Votes |
49
Posts

Wholesaling and The Earnest Money Deposit

Alexandra King
  • Real Estate Agent
  • Santa Barbara, CA
Posted

When putting a property under contract with an Earnest Monday Deposit, is it possible to lose the Earnest Monday Deposit? How do ensure we get it back if we do not find an end buyer?

Most Popular Reply

User Stats

38
Posts
17
Votes
Sean Leone
  • Real Estate Investor
  • Issaquah, WA
17
Votes |
38
Posts
Sean Leone
  • Real Estate Investor
  • Issaquah, WA
Replied

Just make it subject to your partner's approval. If you have a good deal though; 70% of ARV less repairs and less your profit of course you could walk in to any REI and move that deal by the end of the meeting. Good luck and just ignore the naysayers.

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