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Updated almost 10 years ago on . Most recent reply
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Owner asking for $5000 down payment
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