SELLER ASKING FOR DEPOSIT 📍 Wholesaling Real Estate - myEmpirePRO

SELLER ASKING FOR DEPOSIT 📍 Wholesaling Real Estate

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QUESTION ⁉️ “I sent over a contract to a seller yesterday and they responded that they want $10,000 in earnest deposit money.

I wouldn’t really feel comfortable putting down more than $500, so how should I handle this?

Should I mention that I am merely passing the deal onto a buyer, and that the buyer will supply more Earnest money?

or do I negotiate them down?

Thanks in advance.”

This is a problem directly attached to the motivation level of the seller.

You generally don’t have to deal with that when wholesaling pre foreclosures as they have a bigger problem that the desire for earnest money deposits.

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What Is Earnest Money In Wholesaling