OfflineThe buyer is asking for $2000 in earnest money. I do not have this. How can I close the deal in a case where I have no funds?
Also, if I get this property I'm planning on doing a double close.
Thanks.
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The buyer is asking for $2000 in earnest money. I do not have this. How can I close the deal in a case where I have no funds?
Also, if I get this property I'm planning on doing a double close.
Thanks.
Or is it the seller who's asking for an insane em amount? Is it a property off the MLS or a FSBO?
Also, if I get this property I'm planning on doing a double close.
Thanks.
Read double close topics here on DG site.
Use the search box top left, type 'double close' and hit enter.
see links below
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
It's a FSBO. The price is fine...at this time I'm hoping the deal goes through with my buyer.
you ask your buyer for a deposit and you use that money for your EM
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
Why the double close?
I agree that $2k is way too much for EM. I usually only pay no more than $500 for EM. And, that's if I really want it.
Another option would be to simply birddog it to your buyer. Have him sign a birddog agreement and make you one or two thousand dollars for the next deal.
Chris
"Faith is the eternal elixir which gives life, power, and action to the impulse of thought.
"Faith is the starting point of all accumulation of riches!"
- Napoleon Hill, Think and Grow Rich
What do you mean the buyer wants 2k EM,am I missing something here?????????
jbischoff