I have a wholesale deal that is soooo close!! They have accepted my offer but are being nit picky about my contract. I offered to put $200 down - in retrospect even though I had read that people put this much down I should have offered more but now they are asking for 5% which is $16,000! I certainly don't have that kind of money! Any ideas how I can gracefully get them to come down on that? Like to $2,000 which is what I have in the bank. I'm supposed to get back to them quickly so any ideas would be greatly appreciated!
You could put in a "right to continued marketing clause" or also a ROFR "right of first refusal" on the property.
This way you are giving the seller an out if you do not perform. The sellers doesn't want you tying up their property and missing out on a more qualified buyer coming along and then getting only 200 bucks.
No legal advice given.
Maybe anchor it with "what is standard in real estate is $1000". Even if they called to ask around, they would hear that is pretty common for home sales.
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