OfflineOk so I was wondering about the earnest deposit in regard to fsbo's deals.
I know how it works when dealing with a realtor.
I also know just 1$ can be used as earnest money on a fsbo.
Here is my dilemma on fsbo deals that come across my path from my advertising I want to create a plan of action in regard to the earnest deposit. Some of these deals like two I have now are now going to make me much money if any. I don't want to send the earnest into a title company and get the proverbial ball rolling on the close if I cannot find an end buyer. Can I just give say a $1 earnest check/money order to the seller to validate the contract ??
I need a some advise about how to handle this. Especially on deals I fear the ability to close and make money on but I have to try to sell them to buyers and this earnest strategy could make me feel more comfortable when dealing with an unsure deal.
unless the seller asks for it.
Tell them with an all cash sale there is no earnest money offered.
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I thought earnest deposit big or small was needed to validate the contract? How can I word no earnest in the contract? Can I put 0$ in the earnest money line?
n/a in the earnest money line.
This only works with unlisted motivated sellers.
If you are offering on MLS properties the realtor will usually require $250-$500 earnest money deposit.
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