Help with first deal Please

[Ari Hooper]

Need Help with first deal. I have a seller and I have several buyers. I also have a contract drawn up. Is there away to get around the earnest money deposit? This deal involves an assignable contract. I'm not sure of my next step. Do you guys have any suggestions?

[Sharon Vornholt]

Here's what I do when I deal directly with a seller. I never give the seller any money; you will never see it again if they fail to close. I will put "$100 deposit to be held by my closing attorney" in the contract. That will satisfy them.

I agree with the others on Realtor or bank transactions. They are going to want $1000 in most cases.