Updated about 12 years ago on . Most recent reply
Ernest money deposit
Hello BP friends... A quick question:
Do we always need a earnest money deposit "EMD" in a wholesale transaction?
Thanks!
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James Wise
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James Wise#4 All Forums Contributor
#4 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
If you know you have a buyer for the property lined up you shouldn't even worry about putting up an EMD.
If you don't know you can move the property and are afraid to loose said EMD then you have no business putting it under contract.