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Updated about 8 years ago on . Most recent reply
Non-refundable deposit to VIEW property?
I just spoke to a person claiming to be a wholesaler about a property that he's offering. He wanted a $1000 deposit to view the property. Half was non-refundable. He said this was to avoid bothering tenants with people who are not serious. Is this common/typical?
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Steve Vaughan
#1 Personal Finance Contributor
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
I've seen and done that with apts, but not a little house. I need at least a written LOI or offer that has a chance of moving forward prior to letting someone view all the units and bother my people. With that would be EM and some may be non-refundable.
I would not pay a fee to a wholesaler to view a house @Stephen Adams!