Putting under contract with no deposit.

[Terry Royce]

I always see people mention when putting under contract to assign how do you not put any deposit down, I would think most people would naturally want a deposit, and it would be hard to convince them otherwise.

Also, what have you done when you can't find an end buyer and there is no deposit.

My purchase sales agreement states this: Default & Timing: If Buyer fails to perform, Seller’s exclusive remedy is to retain the earnest money as full liquidated damages. If Seller fails to perform for any reason, all loan, sales, & closing costs incurred by any party will be the responsibility of Seller; and Earnest money will be returned to Buyer; and Buyer may enforce this Agreement through an action for specific performance, the prevailing party shall be entitled to recover court costs and attorney fees. This Agreement is assignable. All parties agree that fax signatures/initials are legal & binding. This offer shall become null and void if not received/returned to the Buyer by _______

I want to modify it to say if no earnest money is given, then sellers exclusive remedy would be to void the contract?

Would that work? .

[Anthony Sulecki]

Im glad someone else sees that. Consideration does not need to be satisfied with cash; it simply needs to be satisfied.