Updated almost 6 years ago on . Most recent reply
First deal, Down payments?
Hey BiggerPockets, I have been trying to get my first deal since October now. I have recently been trying to implement a more virtual model and have been spending a majority of my time doing that lately. I feel like I keep running into the same problem. Seller keeps wanting a down payment before they sign the purchase and sale agreement. Is anyone else running into this? And how are y’all managing to navigate around this? Thanks everyone!
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@Kara Fatty yes, the earnest money deposit shows you’re interested in the property. Typically here in Tampa Bay Area, it’s 1% of the sale price