Rookie mistake...earnest money deposit and closing attorney left blank

[Jay De Guzman]

Hi BP,

I recently got a property under contract but left the earnest money deposit and closing attorney lines to use blank.

They came back with it reviewed from their attorney stating he will close the transaction and requests 10% down to be held at his firms trust.  

Do I draw up a new contract with my proposed earnest money deposit($500-$1,000) and my closing attorneys information? 

Property is in Union County New Jersey. 

Any advice would be appreciated.

[Lou Castillo]

Here is how I approach all deals/negotiations...I am not the motivated one - they are. I can walk away. If you have truly found a motivated seller - they can't. Therefore I dictate the terms or I walk away. Is your seller really motivated? If so, just hang tough.