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Updated about 10 years ago on . Most recent reply

Fantasia Bowser's profile image
Fantasia Bowser's profile image
Fantasia Bowser
  • Realtor
  • from Cherry Hill, NJ
  • Member since Apr 2, 2015
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Fantasia Bowser's profile image
Fantasia Bowser's profile image
Fantasia Bowser
  • Realtor
  • from Cherry Hill, NJ
  • Member since Apr 2, 2015
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Fantasia Bowser
  • Realtor
  • Cherry Hill, NJ
5
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31
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Buying & Selling Real Estate

What do I do when seller ask for a large EMD?

Fantasia Bowser
  • Realtor
  • Cherry Hill, NJ
Posted

I'm a new investor starting with little to no money. I agreed to buy a house for 95k but then seller wanted a $1000 deposit. How do I convince him to lower deposit ?

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Richard C.'s profile image
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Richard C.
  • from Bedford, NH
  • Member since Jul 18, 2012
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Richard C.
  • from Bedford, NH
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Richard C.
  • Bedford, NH
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Richard C.
  • Bedford, NH
Replied

The seller has sniffed you out as a wholesaler, and realizes that it is unlikely that the deal will close. That is why they are insisting on a real EMD, and why they are unlikely to waver on it.

Go find a less savvy seller, I guess.

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