EMD

[Dustin Avadar]

Question about EMD's. So if I buy a property for 100k. The seller wants lets say a 10% EMD on the deal, with a 2 week contingency to back out. If I go ahead with the purchase, do I get that cash back, or does that just come off the purchase price? Ie

10k cash, purchase price is now 90k, which will be financed.   

My main concern is I want to limit my amount of skin in the game to at least 15%, as I want to mainly be using opm.   I want to finance that 100k, and use that 10k as a deposit towards my financing, is that possible?

ty,

Dustin