Do you ask for a deposit when you are wholesaling from your buyers? If so how much and do you make it non refunable?

[Max H.]

I have heard both schools of thought, just wanted to hear peoples views on deposits from buyers?

[Jackie Lange]

Always always get a non-refundable deposit from buyer. The check should be made out to the title company or attorney doing the closing though. The only reason the check would be refunded is if you can't give clear title to the property. Otherwise, there should be escrow instructions for the title company to give you the funds if the buyer defaults.

Do not ask the buyer to make the check out to you. That will raise a red flag.

Rarely pay a deposit to seller. If anything it would be $100 or less