Hello All. I am in search of my first deal, and have a question. When wholesaling, how are offers presented to homeowners using Assist2Sell or HelpUSell? Is there a large earnest money deposit required upfront or how does this work? Thanks.
Offers are presented through an agent just like any other Real Estate Broker. The earnest money should be comparable to what the norm is in your area, and deposited into the brokers trust account just like any other broker. In a nut shell, you would treat it the same as you would with any other broker.
Thank you for responding. I just wasn’t sure if they would go for the $1.00 or $10.00 earnest money approach.
You never know unless you try. I think a lot of this has to due with the market that you are in. The less homes are selling, the more willing agents, and sellers are willing to do this. As an agent I might have done that with a pre-signed cancellation. Basically if you didnt close on time, we could walk right away. That is always the fear. We accept this offer, and you don’t close. Then we are back to quare one after losing 30-60 days market time. And what did you lose, a $1? And that is only if you could get finaning but walked anyway.