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All Forum Posts by: Blanton McGhee

Blanton McGhee has started 1 posts and replied 2 times.

Buying & Selling Real Estate

Post: 40% of Listing Price for Earnest Deposit for Commercial Multi Fa

Blanton McGheePosted
  • Posts 2
  • Votes 0
Originally posted by @Rick Imby:

My largest security deposit was $5k on a 500k commercial property.  This sounds really fishy to me.

 I think so too. I understand the need to ensure you have a serious buyer but this seems like something else.  

0 Votes
Buying & Selling Real Estate

Post: 40% of Listing Price for Earnest Deposit for Commercial Multi Fa

Blanton McGheePosted
  • Posts 2
  • Votes 0

Hello All, I am currently attempting to place my first commercial multi-family under contract. I learned today from my realtor that the seller is asking for 40% of the listing price for the earnest money deposit. This large amount seems quite exorbitant to me, but since this is my first outing in the realm of commercial real estate, I'm seeking a sanity check from you guys. Please advise on whether or not this is normal.

V/R

B

0 Votes