Updated almost 6 years ago on . Most recent reply
Increasing Earnest Money
Got a great deal on my hands but....
the sellers lawyer is saying to increase the Earnest money amount to $2,000, what should I say to bring it down? How should I respond?
Any advice would be appreciated!
Most Popular Reply
Sardar, this is a classic negotiation. There's not necessarily anything you can say to tell them to accept less than $2,000. That being said, I subscribe to the belief that you never give without getting in a negotiation. Therefore, find something that you want from the seller that you would be willing to get in exchange for the increased EMD. But, if you aren't open to increasing to $2,000, then say no. If they accept you saying no, the deal may not be as competitive as they're making it out to be. Hope this helps!