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Updated almost 10 years ago on . Most recent reply

User Stats

60
Posts
15
Votes
James Williams
  • Investor
  • Simpsonville
15
Votes |
60
Posts

Owner asking for $5000 down payment

James Williams
  • Investor
  • Simpsonville
Posted

I have a question:  I am attempting to get a property under contract with the seller to wholesale to another investor.  The seller is asking for a $5000 down payment from the buyer before going through with the assignment of contract.  I know $500 to $1000 in earnest money is usually okay when dealing with investors, but I think $5000 is excessive.  

She knows that I deal with investors, but I think she is thinking in terms of dealing with an end user buyer (someone who will live in the property)

Like to know your thoughts.

Thanks

  • James Williams
  • Loading replies...