If I get a REO under contract with an inspection period and am unable to find an end buyer in that amont of time so I back out of the deal, would I lose my earnest money? Any help would be great. And yes I know I am going to get the usual have a buyer lined up and everything else and I understand the importants of this. I do have 10 people on my buyers list (not a lot I know but should be enough to make this work). I have been wanting to get involved with investing for a long time now and I am sick of procrastinating about it. The reward is much greater than the risk for me at this point and I plan to jump in head first.
Yes you should get it back. You may have to sibmit a letter that the home didn’t meet your inspection. An alternate method would be to tell the seller is that you’ll give the EMD when inspection is approved and that you have other offers out there and don’t want to ty up all your cash. Might work might not. Herbster
Thanks Herbster it is much appreciated.