Self-Directed IRA Earnesy Money
I’m getting ready to buy another lot through my self-directed IRA. The first time I bought one, I didn’t have to worry about an earnest money check since the listing agent was aware that was it essentially a quick cash closing as far
as the seller was concerned to the line read “zero” for earnest money. On my current purchase I will need to present an earnest money check of $1,000. My questions is
this, is it permissible to write a personal check from my own checking account and have it refunded out of closing or must it be made from my IRA account? My company is Equity Trust, they’re closed today and I don’t see a specific answer on their website. Does anyone know it they have the capability to overnight a check for earnest money?
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