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Updated about 13 years ago on . Most recent reply
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"Normal" wholesaling terms for buyers?
As a potential buyer, I've been dealing with a wholesaler in my area and I'm not sure if the conditions they've set for the buyer are typical.
If you don't mind sharing:
1) How much of a deposit do you ask for from the buyer?
2) Is the deposit refundable or non-refundable?
3) Is there any kind of inspection period for the buyer?
Thanks.
Most Popular Reply
I'm just getting involved in the market and don't agree with the typical terms, but in Orlando here is the standard:
1) $2,000 deposit
2) Non-refundable
3) No inspection period
So, as you can see, you really have to do your due diligence and know your stuff when dealing with wholesalers.