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Updated about 15 years ago,

Naskat Williams's profile image
Naskat Williams's profile image
Naskat Williams
  • Real Estate Investor
  • from new york
  • Member since Feb 22, 2008
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User Stats

19
Posts
1
Votes
Naskat Williams's profile image
Naskat Williams's profile image
Naskat Williams
  • Real Estate Investor
  • from new york
  • Member since Feb 22, 2008
Connect
Naskat Williams
  • Real Estate Investor
  • new york
1
Votes |
19
Posts
Foreclosures

Bank Wants 10K Earnest Money

Naskat Williams
  • Real Estate Investor
  • new york
Posted

My realtor told me that in rder to buy a reo property the bank wants 1oK in earnest money. The arv is $400k, and i will be offering 15ok. I told him the most I would offer is 2k. He said that the banks ask for 10k because they figure if you are buying with cash is shouldn't be a problem, or else they will think your a flake. Is this true?

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