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Updated over 11 years ago,
Deposit amount to open escrow
I'm working on my first wholesale deal and the title company wants $500 to open escrow. In the purchase agreement my earnest money is $25. I haven't done any business with them obviously as this is my first deal but I do have an advocate in the title company and a backup company as leverage. I have some things going for me to negotiate with but first I just wanted to ask the community if this is regular? I've never heard of anyone being forced to put up more than the earnest money to open escrow.
Thanks for your input in advance,
Russell