Updated about 1 year ago on . Most recent reply
Don't be cringe...
☝️Don't be cringy...
That's literally what an attorney said on a recent REI Zoom. It's frowned upon by EVERYONE in the industry. And it means more work for people if the deal falls through.😾
If you're wholesaling or the end buyer, show you want the deal to go through. Best practice is to put at least 1% of the purchase price in escrow.🏠
What to watch out for? Some states are mutual release, meaning the seller and buyer have to agree to the release of earnest money if the deal does not close. Avoid issues by getting an agreement signed by the seller in the beginning.✍️
Thoughts???