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Updated over 1 year ago,
Who pays the earnest money deposit?
I am a bit confused on this topic so lets just get started. First off I was wondering if as the wholesaler do I have to pay a earnest money deposit to the seller or does the cash buyer do that since I am assigning the contract over to them. If I have to put down an earnest money deposit made out to the seller do I get that back when the deal closes and when the cash buyer buys the property or is that put towards fees/taxes I will have to pay? Also as the wholesaler should I ask for earnest money from the cash buyer or not, thank you.