Earnest money being held at X

I think that was a post by Tina, but I'm not certain about that. Anyway, I think the post stated that the EMD would be made when the offer is accepted.

Shirley

For me, I would rather submit the earnest money with the offer along with my POF when working with an agent. On an REO offer it is a must I think (If you want an accepted offer). You can get the money back at the end of the inspection if you can't move the property. If you are making a cash offer and you want the seller/bank to take you seriously you should put up the earnest. It makes for a stronger offer I think. One offer has earnest and the other says earnest due after inspection. Which one will be accepted most often? Lenders and agents are getting wise to this money after inspection strategy. It shouts you are trying to wholesale and have NO money. A cash offer but no earnest??? OK!! It depends on your market too I guess, If there are NO offers on a property the seller/agent may accept a no earnest offer.

Of course when working directly with a motivated home owner and using your own contract, no agent involved, you can make earnest $10 if you want.

Michael Mangham
Mentoring/ Team Building Nationwide
MD Home Acquisitions LLC

I will go and try to find it under her posts. Michael it is to a private homeowner, so just wondering about the hassles of putting at title company if she doesn't even accept the offer. Tammy

when you are trying to buy from a bank or through a real estate agent; but when dealing directly with a homeowner, the safest course of action is to pay the ED after contingencies are removed. It doesn't mean the direct seller will accept this plan of action, but always try to structure the deal skewed to your safety.