So I have a question in reguards to earnest money. How much have you typically paid?? my realtor is telling me that the banks want at least 1% or at least going to counter my offer of earnest money. Is earnest money req'd? cuz 1% is a few grand i dont have on some of these properties.
So I found a market that has freefalled and homes are being listed 40-70% below 2008 assessed values. I am only trying to squeeze an extra 5% by offering 10 below list price. I'm no genius but the assessed value is substantially less then fmv and arv. Am I correct in this assumption? and then do i even mention what the list price of the home was before to the end buyer or just show him how much money I am making him and take a little off the top?