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Updated almost 2 years ago on . Most recent reply

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Ken Connors
  • Other
  • Culpeper, VA
1
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17
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Assignment Agreement Earnest Money

Ken Connors
  • Other
  • Culpeper, VA
Posted

First wholesale deal question.

I've got a property under contract with a $100 earnest money deposit.  I've got a buyer ready to sign an assignment agreement.  I want to make sure this buyer puts down some earnest money to have some skin in the game an not back out and leave the deal in jeopardy.  Would the intent of the buyer's non-refundable, earnest money deposit be on the assignment fee, payable to me, or for a deposit on the purchase price of the house.  Obviously, if the buyer bails, I want to be the one that get's compensated rather than the seller.  

Looking for an some guidance and possibly a sample if anyone is willing to share. 

Thanks in advance for the help.

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