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Updated over 2 years ago on . Most recent reply

Account Closed's profile image
Account Closed's profile image
Account Closed
  • Wholesaler
  • from Tampa, FL
  • Member since Mar 27, 2022
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Account Closed's profile image
Account Closed's profile image
Account Closed
  • Wholesaler
  • from Tampa, FL
  • Member since Mar 27, 2022
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Account Closed
  • Wholesaler
  • Tampa, FL
2
Votes |
3
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Wholesaling

Does the EMD go to the title company in a wholesale deal?

Account Closed
  • Wholesaler
  • Tampa, FL
Posted

I have this doubt about the earnest money deposit. Does the two EMDs have to be through a title company, or it can be sent from wholesaler to homeseller / cash buyer to wholesaler? 

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Bob Okenwa's profile image
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Bob Okenwa
  • Real Estate Agent/Investor
  • from Peoria, Arizona
  • Member since Dec 10, 2016
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Bob Okenwa's profile image
Bob Okenwa's profile image
Bob Okenwa
  • Real Estate Agent/Investor
  • from Peoria, Arizona
  • Member since Dec 10, 2016
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Bob Okenwa
  • Real Estate Agent/Investor
  • Peoria, AZ
2,461
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Bob Okenwa
  • Real Estate Agent/Investor
  • Peoria, AZ
Replied

@Account Closed

Always send the EMD to title/escrow. I don't trust wholesalers with ARV and repair estimates, so there's no way I'd trust them with money.

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