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Updated over 6 years ago,
Non-refundable deposit to make an offer?
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!