Real Estate Wholesaling Questions & Answers

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Larry N.
  • Flipper/Rehabber
  • Silver Spring, MD
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Wholesaling and Earnest Money Deposit

Larry N.
  • Flipper/Rehabber
  • Silver Spring, MD
Posted Aug 31 2016, 15:25

Hi, It's been said that one can do wholesaling with little to no money.  Most all sellers want either $2,500 or $3,500 refundable earnest money deposit before they will sign an agreement to sell their wholesale property. 

Then how can one get an agreement signed with seller if one does not have the $2,500 or $3,500 cash available?

So how can one be able to do a wholesale deal and get a legal equitable interest in the property without a written agreement to be able to market or assign the deal to an end-buyer?  Thanks!

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