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Updated over 2 years ago,

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Joe S.
Pro Member
  • Investor
  • San Antonio
2,872
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3,306
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Contract question for properties in Arkansas.

Joe S.
Pro Member
  • Investor
  • San Antonio
Posted

Contract question for offer contract in Arkansas. So I do not particularly specialize in properties in Arkansas even though I used to have some properties there. I have one property left that I have on the market. So we get an offer from a buyer.  Also they are asking for a six week closing. They check that they will be putting zero dollars down as earnest money deposit. And the way it looks on the contract if a person is looking to secure government financing they do not have to put down earnest money. They selected conventional. So the best I can tell the only person on the hook to perform on the transaction is me the seller. The offer did not include any pre approval letter from a lender  or anything. Is this sort of thing normal in Arkansas where Realtor’s present offers where these potential buyers no skin in the game and no real commitment to a property? I don’t need the people’s earnest money, but if they are so committed that they will put down zero what is the likelihood of them actually following through?

  • Joe S.
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