Earnest Money ~ Dallas Area

Hey Dennis,

I have found in the Northeast that we need $1000-$3000 for a deposit
on signing the P&S. I also had no money, so i had to find someone
that would loan it to me and when i flip the contract, i paid them back
there initial and then $1000 for the use of funds. I know it sounds expensive,
but i had made $15,000 on the assignment, so it was worth it.

I wish you all the best.
Got get em and don't let anything hold you back!!

Doug

Dennis, we are in Oklahoma and believe your market is simila to Tulsa metro. $500 to $1000 is typical here and sometimes depends on the offer price. You wont need to provide any earnest money until the offer is accepted, so you will have sometime to work with private lenders to support you in this transacton. Good luck! PM us if you have questons.

Dennis - work your contingency clause in your favor. Depending on the situation you can also give them a copy of your EMD check for the offer. Collect the EMD from your investor during the contingency clause period then there will be no money out of your pocket.

Also, as Tom and Jeri suggested - possibly borrow the money. You have nothing to lose. Worse case scenario you end up without a buyer, exercise your contingency clause in the allotted time frame and exit the contract without losing your EMD.

Good luck!

Karen