Earnest Money

[Rodney Dawkins]

Operating as a wholesaler and I have an end buyer can I use the end buyers money for my emd or will this be balked at by the seller?

[Jon Holdman]

Not sure Rodney was referring to bank owned properties. If that's what your trying to wholesale, I don't think you can make this work. You'll need to have the earnest money very quickly after the bank accepts your offer. So, you'd only have a day or two at the most to find a buyer and get money from them. There are other issues with wholesaling REOs. Lots of discussion on this topic, try the search function.

If you're wholesaling properties you find as a result of you own marketing, the earnest money should be minimal. $10 or maybe $100.