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Updated almost 5 years ago on .

Gursewak Singh's profile image
Gursewak Singh's profile image
Gursewak Singh
  • Realtor
  • from Frisco, TX
  • Member since Jun 2, 2018
  • Posts 20
  • Votes 5
  • Experience 11 Yrs
  • Investments 1
Connect

User Stats

20
Posts
5
Votes
Gursewak Singh's profile image
Gursewak Singh's profile image
Gursewak Singh
  • Realtor
  • from Frisco, TX
  • Member since Jun 2, 2018
  • Posts 20
  • Votes 5
  • Experience 11 Yrs
  • Investments 1
Connect
Gursewak Singh
  • Realtor
  • Frisco, TX
5
Votes |
20
Posts
Land & New Construction

New development Quadplex question

Gursewak Singh
  • Realtor
  • Frisco, TX
Posted

Hello BP Family. Question for seasoned investors or Developers.

Is it normal for new build(quadplex) to have Earnest money goto developer company instead of Title company? Off course, it’s non -refundable which I’m not worried unless I back out which I have no intentions to do so but my worry is if this developer goes out of business for any reason?

I would appreciate any help with pros & cons. They already have my 6k option money (lot hold) which I will loose, if I back out now. I have call setup tomorrow with developer to speak to him regards to this. Just want to do my homework.

TIA

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