Binder Deposits?? What makes it legal in FL?

General Real Estate Investing
1

Hi all,

Does anyone know if, and how much $$ Deposit on a contract is needed to make the contract legally binding in the state of FL???

This applies for Purchase Agreement, L/O, and Straight Options.
I have a few deals on the table (finally) after some direct mail campaigns. I know I need to seek legal advice, but I need these deals to raise the extra $$ for an attorney.

Thanks in advance!!! And thanks for all the other great info I’ve learned from these forums!!!

Derocka

2

Any body???

I would really appreciate if any one could help me with this.
This will be my first coouple of L/O deals and I think I have just about everything else right.

It Seems impressions mean alot, and I’de like to have a professional answer for my sellers.

Thanks again.
Derocka