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Updated almost 7 years ago on . Most recent reply

User Stats

29
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24
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Justin Campbell
  • Rental Property Investor
  • Great Falls, MT
24
Votes |
29
Posts

Non-refundable deposit to make an offer?

Justin Campbell
  • Rental Property Investor
  • Great Falls, MT
Posted

Hello All!

I'm looking to buy a single family property for $90,000- gets 17% ROI and recent updates to major ticket items. The catch is the seller (FSBO) wants $2000 non-refundable to submit an offer. She said the reason was she doesn't want to mess around with people who are not serious buyers. Seems a little off to me, but as a new investor I'm in the dark. I've read as many articles as I can about it and it seems like this is more standard when it comes to Wholesaling. Can anyone offer advice on whether this non-refundable deposit is reasonable or not?

Thanks for your time!

  • Justin Campbell
  • Most Popular Reply

    User Stats

    1,299
    Posts
    1,316
    Votes
    Josh C.
    • Property Manager
    • Indianapolis, IN
    1,316
    Votes |
    1,299
    Posts
    Josh C.
    • Property Manager
    • Indianapolis, IN
    Replied

    Justin Campbell are your sure its for sale by owner? Has wholesaler written all over it. Check the tax records

  • Josh C.
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