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Updated over 10 years ago,

Account Closed
  • Omaha, NE
85
Votes |
201
Posts

earnest deposit = full purchase price? give me a big advantage?

Account Closed
  • Omaha, NE
Posted

reading the rich dad poor dad book and he said at one point that he made an offer to the bank on a forclosed property. with his bid he sent a cashiers check for the full amount so they knew he was serious, the bank took his offer. 

That doesnt sound like a terrible idea....

say im looking at a property that the bank has listed for $25k.

if I made an offer to the bank of $15k and included a cashiers check for the earnest deposit in the amount of $15k. do you think this would substantially increase the likelyhood of the bank just simply taking it compared to a $500 earnest deposit?

anyone ever done this? I would think the bank may be very tempted to just take an offer that has a check for the full amount included.....

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