Earnest Money is a deposit towards the purchase of real estate or publicly tendered government contract made by a buyer or registered contractor to demonstrate that he/she is serious about wanting to complete the purchase.If the seller accepts the offer, the earnest money is held in escrow by the real estate broker or by a settlement or title company until closing and is then applied to the buyer's portion of the remaining costs.

I can get friends to deposit money in my account to show I have a years rent on hand , I can also come up with hundreds of reasons why I had to spend that money by the time next months rent is due .

I am new to wholesaling in baltimore and have been following the forum for a while but still have a few questions that I dont believe I have seen addressed elsewhere, and was hoping you can help:-When a deal is made between the seller and I, does the seller hold my deposit, or is it held at the title company?

We have council examining whether we have justification to retain her portion of the Security Deposit under these circumstances (if and when she does leave).

For your rental I would get the lease and deposit.

My selling agent (repping me as buyer) may not be the best person for the listing slot.

Push for a large security deposit (3x monthly rent is max in NV).

I basically do two things, drive around to see for rent signs, call up a few and get to know their asking rent, pet policy, security deposit etc...I also look up a few sites to do the same.

You do/should have the option to keep the tenant (request the file for occupant- rental documents, lease, security deposit information ) if you would like to consider keeping the current tenant.

To clarify: Mark Loeffler's rent-to-own book describes a process where a tenant/client 1. pays a deposit, 2. makes monthly rent payments (with portion going towards eventual purchase) and 3. there is an option to purchase property, usually after 2-4 years at price fixed at beginning.