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Updated over 8 years ago on . Most recent reply

User Stats

8
Posts
1
Votes
David Cole
  • Saint Louis, MO
1
Votes |
8
Posts

New Member from MO - I have a question!

David Cole
  • Saint Louis, MO
Posted

Hello, my name is Dave and I'm new to investing and the bigger pockets forum. I'm a realtor, but l'm looking to start my investment portfolio of rental property as well as wholesaling. 

I know a seller who sends me deals fairly often. These are usually good deals, but require a $2,000 non refundable deposit to be held with the title company upon contract acceptance. What's the best way to assign a deal like this with such a large deposit? 

  • How do I protect myself from losing the $2,000 in the event that I can't assign the contract within the stated timeframe?
  • Does my assigned contract need to include language stating that $2,000 of my assignment fee goes toward a non refundable deposit? 

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