Non Refundable Earnest Deposits and Escrow Accts

[Erika A.]

Hi!

I'm trying to understand the logistics of completing a whole sale deal. Once you find the deal, get it under contract and find an end buyer...

1)Is it best practice to have them put a Non Refundable Earnest Deposit? Do some not put an earnest Depost?

2) If they do put in an Earnest Deposit- who handles the escrow account? The closing Attorney right? Any more detail on that process

3) If its non refundable does that mean you get to keep that earnest deposit whether or not the deal closes?

4) How much is the earnest deposit? I know in a regular sale at least in MA its typically 1,500. How much do end buyers typically pay in earnest deposits?

Also- Anyone know of any good wholesaling books i can start with?

Thanks!