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Updated over 5 years ago,

User Stats

98
Posts
19
Votes
Jon Passow
  • Rental Property Investor
  • Cleveland, OH
19
Votes |
98
Posts

Earnest Money Deposit with Contingencies

Jon Passow
  • Rental Property Investor
  • Cleveland, OH
Posted

I was listening to one of the Bigger Pockets podcats the other day and the guest said that when they first say they are interesting a house and before they make a earnest money deposit they have the home owner sign a contract saying that the purchase is contingent on them finding funds/loans to purchase the house, home inspection, etc etc and if any of those items fail to happen they get their deposit back.

I have a few questions about that. Is that something you can get a template for online or will I have to go to a lawyer to create me a document for that (looking to invest in Ohio btw). Is that something you give the real estate agent to sign and fax back to you? What if you see the property online and they want the deposit done through their website and they have their own contract they want you to sign?

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