Posted by ScottE on February 10, 2001 at 01:03:46:
If you have done your homework and are pretty sure you are making the right offer (read low enough) then hunker down and put up the $200-500 it may take to get them to sign up.
One thing you can do to buy yourself a day is to write a clause in the contract stating you will deliver certified funds (in whatever amount you have agreed) within 24 hours of acceptance of your offer. That way you know you have a deal and you WILL find the money to put up.
Just a side note- earnest money is NOT required, contrary to what most agents will tell you, however, it is customary and you’re better off not getting into a pi$$ing contest with them. If they balk at the above idea, or they balk at a smaller amount, I just tell them “Ms./Mr. Agent, if I put $500 or $1,000 up on every offer I made, I’d run out of cash flow pretty quickly. Besides, that earnest money is just used to ‘firm up’ the buyer and if the seller will take my offer, I assure I will close as long as everything checks out as we agreed in the contract”.
Go get 'em!