I’m finding FSBO’s are not the best people to deal with however, I wanted to get some opinions.
I’ve been dealing with FSBO’s for awhile and they seem to be a whole different crowd. Without going into all the frustrating scenarios I go through here is one I need help with.
They want earnest money OK - understandable but 1k, 2k + I’m not going to give. However, can I put in the contract earnest money to be paid into escrow within 10 days of the contract - have the buyer alrelady lined up by that time and then they put in the deposit?
Is that sufficient time - too much time for the buyer maybe? My Escrow Officer indicated not to put an earnest money disclosure on the original purchase contract - only the assignment contract. How should this be handled. My offers would be accepted if i could put the money down.
It seems best to have an assignment contract at the time you make an offer but not necessary - it will depend on the seller. If you have the assignment ready to go you will move faster - have the earnest money ready to be put into escrow etc - however not sure how you can promote a deal or even have such timing to put in an offer with a seller and already have a buyer lined up. I used to put in a verbal offer with a FSBO, promote and find a buyer within 48 hours or so then put in my contract with the seller and turn around and get my assignment. A few problems with that - 1) i don’t have a signed contract from the seller 2) i’m promoting a deal i don’t have a contract on so others can go around me 3) need earnest money asap - this is all FSBO issues!