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Updated over 8 years ago on . Most recent reply
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New Member from MO - I have a question!
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?