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Updated about 9 years ago on . Most recent reply

Sam Heck's profile image
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Sam Heck
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  • from Prairieville, Louisiana
  • Member since Dec 27, 2015
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Sam Heck
  • Real Estate Investor
  • from Prairieville, Louisiana
  • Member since Dec 27, 2015
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Sam Heck
  • Real Estate Investor
  • Prairieville, LA
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Tax, SDIRAs & Cost Segregation

Who holds the deposit when there are no agents?

Sam Heck
  • Real Estate Investor
  • Prairieville, LA
Posted

Newbie here! I'm ready to make an offer on a 4-plex that is being sold by the owner, FSBO. I've never worked without an agent before and want to make sure that I am filling out the agreement correctly. Who holds the deposit when there are no agents? Is it the seller?

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Matt Devincenzo
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Matt Devincenzo
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Matt Devincenzo
  • Investor
  • Clairemont, CA
Replied

You would put it in "Escrow" with the Attorney/Escrow officer/Title Company (whatever is used in your area). That's actually where your EMD ends up anyway when you use an agent, they just hold it temporarily and then forward it on the the closing agent on your behalf.

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