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Wholesaling

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Vincent Coney
  • Harrisburg, PA
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Wholesaler newbie question

Vincent Coney
  • Harrisburg, PA
Posted Feb 17 2015, 13:21

I have potential wholesale deal on the table. Its a multi unit that was appraised at 106k and me and my partner got her down to 82k. We have a potential buyer lined up that is willing to take off our hands between 88-89k. This would be my first wholesale deal. We sent her a basic contact that listed the earnest money etc. She sent the contract back as a total revision. She obviously got her attorney involved. Our biggest gripe is she didn't like that we put $10 in the earnest money category. She said that is not a true deposit and she said it should be $1000. I'm not willing to put up a $1000 especially on my first deal. How should we deal with this objection ? Any help would be appreciative. 

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