That amount of money is way out of my reach. As I began to work my way up from wholesaling to buying then I can deal with paying that amount for earnest money.
I always put decent sized earnest money down.
Usually $1,500-$2,000. That check gets held with a realtor so I'm not out any money. My realtor tells me before he cashes it, just in case.
To me it's an easy way to show them I'm a serious buyer that won't jerk the seller around.
Probably not ideal for a wholesaler, but for a buyer putting that much or more down anyway, seems to work.
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