Updated about 7 years ago on . Most recent reply
Earnest money on an all cash offer?
My realtor is asking for the following information when I told her I would like to put an all cash offer in on a property. “proof of funds, the legal name you want the title in, how much earnest deposit you’d like to put down and what date you’d like to close on.”
I have the money in a checking account to cover the entire deal.
Is all of this required? Can anyone explain the risks of the earnest deposit? How much would you recommend on a $60,000 property in need of some work.