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Updated over 9 years ago on . Most recent reply presented by

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Sam Heck
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  • from Prairieville, Louisiana
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Sam Heck
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  • from Prairieville, Louisiana
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Sam Heck
  • Real Estate Investor
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Tax, SDIRAs & Cost Segregation

Who holds the deposit when there are no agents?

Sam Heck
  • Real Estate Investor
  • Prairieville, LA
Posted

Newbie here! I'm ready to make an offer on a 4-plex that is being sold by the owner, FSBO. I've never worked without an agent before and want to make sure that I am filling out the agreement correctly. Who holds the deposit when there are no agents? Is it the seller?

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Matt Devincenzo
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Matt Devincenzo
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  • Clairemont, CA
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You would put it in "Escrow" with the Attorney/Escrow officer/Title Company (whatever is used in your area). That's actually where your EMD ends up anyway when you use an agent, they just hold it temporarily and then forward it on the the closing agent on your behalf.

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