OfflineTo anyone that can answer this question for me
Do I have to have a deposit down in order to LOCK UP the property. Because, there are 15 sellers that might be a good potential and I dont have any money to put up right now. What do I do if that happens
Thanks--Jason
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"I used to say, "Things cost too much." Then my teacher straightened me out on that by saying, "The problem isn't that things cost too much. The problem is that you can't afford it." That's when I finally understand that the problem wasn't "it" - the problem was "ME!"--Jim Rohn
if it is a good deal, and you know it, see if you can borrow some money to put as earnest...$100 is plenty in most cases...and tell whoever you borrowed from, that after you sell, or pass it off as an assignment, you will pay them a certain amount back after it closes and you get paid. so if you borrow a hundred, tell them you will give them a hundred plus another 200 or something...cause if you make a decent amount, who cares if you have to pay out an extra 200 to make a couple thousand or more...
also, make sure you have a contingency in there that you get your earnest money back if you don't close in a certain amount of time...
your agent/attorney can help you with that if you are working with them...
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Thank you marc for your advice.
"I used to say, "Things cost too much." Then my teacher straightened me out on that by saying, "The problem isn't that things cost too much. The problem is that you can't afford it." That's when I finally understand that the problem wasn't "it" - the problem was "ME!"--Jim Rohn