Non-refundable earnest money deposit

[Lance Mundo]

Working with a HML requiring a non-refundable earnest money deposit…

What due diligence do you perform before sending that deposit to minimize risk?

For me so far: my own research for rents, comps and rehab budget

What am I missing that you would add in this preliminary analysis?

[Jay Hinrichs]

Quote from @Lance Mundo:

Sorry about the typo. I meant to type wholesaler instead of HML.

I personally wont give a wholesaler a non refundable deposit.. if the deal cant close for some reason they will normally ghost you.. this is probably new western or one of those outfits.. who rely on FOMO high pressure to get the deposits up front and released like that.