Assigning Houses And The Burning Question
When putting a house under contract, you obviously have to put in some earnest money. My question is, how do you reclaim that money once you assign the contract to another investor? Because that money is applied to the purchase of the house, you basically just lost it because the other investor is buying the house! How do you get around this? 8-) null
have you earnest money deposit held in "an escrow account" Tell them the money is there, they don't need it right away, and once you assign the contract, tell the investor that your pulling your money.