My title company said . . .

[Nick Sandt]

My title company said that I don't ever need to submit an earnest money deposit with my 1st contract, the only earnest money ever is from my end buyer, I'm a wholesaler by the way. But doesn't that make my contract invalid? They also said that I don't need to work with a real estate investment savvy attorney because they are fully capable of playing that role. Is anyone familiar with a title company saying these sort of things or does this sound sketchy? Any feedback is much appreciated!

[Kyle J.]

A common misconception is that an earnest money deposit is always required to make a contract binding.  Not true.  It may be the local custom, and probably will be called for in most sales transactions/purchase agreements that involve a Realtor (mostly so they know you're serious), but they are not legally required. 

Whether or not to use an attorney for your purchase/closing is also largely dependent on local custom.  I have bought quite a few houses and have never used an attorney to do so.  The title company handles everything. 

But ultimately, with all that being said, if you're uncomfortable with the advice they're giving you, seek out the advice of other investors/realtors/attorneys/title companies in your area and get a second (or third) opinion.