Deal turned down bc of my “$1” earnest money..

[Calus Glispie]

So one of my deals I’m working on took me a while to get in contact with the owner but after following up we spoke and agreed on a price. i emailed him the contract and he said he didn’t like the dollar amount for the earnest money (which i had at $1 dollar) but instead he wanted $1,000 to lock the deal. Now I’ve done my research on earnest money but as for wholesaling is this out of the norm? Bc I’ve always heard you can close deals with even NO earnest money at all but is this true or just a wholesaling myth?

[Account Closed]

Yet another "investor" who is willing to "buy" a property but doesnt have $1000 to their name. But still wants to tie up a seller at a low price. This whole business model is really offensive to me. If you can close and will close then sure go ahead buy it low and sell it slightly higher. But if you have no means to close then get a RE license and be an agent.