Updated over 8 years ago on . Most recent reply
Attorney will not write contract for less then 10%
Hello. I'm a wholesaler in NY. New York is an attorney closing state. My sellers attorney said he will not write a contract for less then 10% of the sale of the home. My seller and I agreed on an earnest deposit for much less then that. What are my options? Is it LAW that a 10% deposit is needed? My seller and I are ready to move forward. How do I do this if attorneys are requiring 10% earnest money? I was under the impression that attorneys are only needed at closing. All feedback would be greatly appreciated. Thx
Most Popular Reply
Why do you need an attorney to write up a simple contract? Attorneys should only be used to fill vacant seats on buses going over cliffs.