Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago on . Most recent reply

User Stats

11
Posts
1
Votes

Exciting Deal In Hot Chicago Neighborhood

Carolyn Boswell
Posted

Hi All,

I hope everyone is staying safe during this crazy time.

I’m currently negotiating a contract on a 4 unit building in Chicago’s Logan Square/Bucktown neighborhood. This is a very popular neighborhood so I really want to get this contract.

However, seller is requesting $5k in earnest money. Any suggestions on how I go about getting the earnest money deposit?

Most Popular Reply

User Stats

6,133
Posts
5,077
Votes
Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
5,077
Votes |
6,133
Posts
Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied
Originally posted by @Carolyn Boswell:

Hi All,

I hope everyone is staying safe during this crazy time.

I’m currently negotiating a contract on a 4 unit building in Chicago’s Logan Square/Bucktown neighborhood. This is a very popular neighborhood so I really want to get this contract.

However, seller is requesting $5k in earnest money. Any suggestions on how I go about getting the earnest money deposit?

 How are you going to buy it if you don't even have the cash for the EM deposit?

business profile image
Second City Real Estate
5.0 stars
20 Reviews

Loading replies...