Reo realtors and deposit money.., - Posted by Joe (Oh)

Posted by TH on October 23, 2003 at 20:49:41:

The Realtor want’s nothing, it’s the REO company that request earnest money. Sometimes it $500 many times it takes at least $1000 to secure your contract.
TH

Reo realtors and deposit money…, - Posted by Joe (Oh)

Posted by Joe (Oh) on October 23, 2003 at 17:38:54:

How much do realtors who work with foreclosed reo fixer-upper properties expect as a non-refundable deposit? I heard it was only 500$ but I wanted to be sure. And if it’s more how much so, and do some realtors want just $500 and others more?

Thanx-

Re: Reo realtors and deposit money…, - Posted by jasonrei

Posted by jasonrei on October 24, 2003 at 10:44:31:

Where I am it’s mor elike $1000, even on houses under $50k. I’ve had REO sellers require $2000 EM. Also, about half want cashiers checks now.

Re: Reo realtors and deposit money…, - Posted by Kevin IL

Posted by Kevin IL on October 24, 2003 at 08:13:14:

I have always offered $500 earnest paid upon acceptance of contract and held by my attorney. Usually they counter that the listing agent will hold the escrow. I let them win on this point and they never seem to question the amount.