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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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.