| Title | : | Everything You Need to Know About Your Earnest Money Deposit! [Real Estate Investing for Beginners] |
| Lasting | : | 14.18 |
| Date of publication | : | |
| Views | : | 31 rb |
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lol I you have an amazing energy lady, thank you for breaking it down so enthusiastically and clearly ! You are the best Mark Comment from : The Superyacht Alchemist |
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Some of not all mobile home dealers require EMD if your going to purchase from them Comment from : Takisha Baker |
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My question is: how is the split between the broker/realtor and the seller? How much percentage each one keeps? I am dealing with a hard situation now Comment from : Bruna McNeill |
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My realtor keeps telling me that my earnest money will stay in escrow account after closing and not be put towards my down payment or closing costs Is this correct ? Comment from : Eric F |
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I really appreciate it Comment from : Yellow |
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So if I put earnest money down and the deal goes through I don't get the emd back correct? Instead I'll get my assignment fee? Comment from : Yellow |
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Be careful with scams I got scammed out of $4500 on 2 different properties with 2 different REMax agents with EMDs I literally don’t have any trusts for agents Doing auction buys now Comment from : Jorge Pizarro |
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I did that i calle the agente did My offert ando the agente toldo me yeah and wey Will need 20k as EMD and i was like shet i can't do that and i told him i was gonna talk to My partner and never came back lol Comment from : Tú chiquita Garcia |
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So what if you don’t have 500-1000 dollars to put down in EMD would you just get it from the cash buyer ? Comment from : Nicky B |
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Awesome! Comment from : Sharon Ceaser-Wheeler |
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Hey guys, if anyone needs help with EMD, my partner and I provide short-term loans to help you get across the finish line If the deal falls through, there is no interest to pay Hit me up if you need help with that or other creative solutions Preferably you already have some buyers lined up and the deal closes in less than 2 weeks (up to 4 weeks)! Comment from : Andrew Wilsher |
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Hello If you need help with EMD on a deal, I can help Just let me know We will connect and talk about the deets :) Comment from : Josh Franklin |
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Nice!Thanks Comment from : SON of Apollo |
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Im confused on how you can make much money dealing with realtors and on-market properties when the realtors are already taking a percentage? Comment from : 999 |
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Hire a real estate attorney first and before signing a contract, before earnest money deposit Comment from : Missy Skeeter |
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Lili, you mention there's 10 things you always include in your offer letter when working with RE agents, however the 'offer sheet' link you provided only has 9 Is there something I'm missing? Comment from : Duncan Twyman |
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Thank for all Information, sincerely Comment from : Jose Alpizar |
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hey Lili , as a wholesaler am i allowed and entitled to making the difference between my emd and my cash buyer's emd ? (my cash buyer's emd has to be higher mines so he/she can be committed to closing and funding the deal that way they arent compensated ) Comment from : ahmed |
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CONFUSED NEED ANSWERS 🤔🤔🤔:brbr1) If I am working with a realtor on an on market house as the wholesaler, do I call the realtor and tell them the verbiage so they can put it in the contract for me to have it signed?brbr2) To get the verbiage to the cash buyer, do I need to fill out a EMD contract in regards to the nonrefundable deposit so they can sign as well as I do? brbr3) The EMD that I have to pay I assume that is my own money correct? Comment from : wh00 is 007 |
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We just went under contract today and agreed to $1K from the buyer for $240K house It is worth it to try for a lower amount if you need Some people (like us) will agree 🥰 Comment from : Lys Dawn |
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How you can often the payment of earnest money deposit? Cash, check or money order Comment from : Lourdes Galloway |
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When are you going to have a YouTube live? Comment from : melody N |
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My Ernest money went to the clouds! At the beginning they said ill need 55k Cash to Close They should of told me 60K My 5k deposit they said will go to my cloaing cost! Ya right! This is a Greedy Game, with Greedy people! Comment from : AC Babel Gates |
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For clarity ; it varies state to state Comment from : Don Guello |
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You're awesome at teaching the process btw, definitely see your influence from Jerry Keep up the great work & let us know if you start dealing in Atlanta! Comment from : Saint Nix |
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Love your content keep it coming earned a new sub Comment from : Ksniper |
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So wait, you were saying how I would put down a x amount of earnest money depending on the size of the property if its on marketbut what about properties not on MLS Couldnt you just give an earnest money deposit of whatever amount to the title company to give the seller Comment from : Cyber Earth |
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What happens to your earnest money once you assign the contract?? Comment from : Glen White |
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I have a quick question so i just got my feet wet in this and I’m in the middle of trying to obtain the earnest money but who pays the escrow? Comment from : Hotbox Fitness |
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Seller change Earnest Money from 1k to 5k, what do I do Comment from : Lewis G |
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do you pay for a home inspection? even wholesaling Comment from : jessica fisher |
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How about if you don't back out and at the end the bank doesn't approve you? Comment from : TheCherrydi |
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What about if you are wholesaling a property in a different state How is earnest money handled? How do they get the earnest money and can you chose a title company that’s not in the same state as the property or should you find one in their state that is investor friendly? Comment from : Kislande J |
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Your offer sheet is not available on your website after you pay the seven dollar fee Comment from : Triple Prime Investments |
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hey Lili I started cold calling today and i have to say that its the worst experience ever! lol i got cussed out and hung up on! i think on market deals is the way to go stay tuned! Comment from : Honestly Speaking |
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I have a question! Does the wholesaler pay for the inspection and for photos to be taken of the property or does the cash buyer do that? Thanks! Comment from : Aiden Shepard |
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Just want to say thank you for taking the time to provide us free resources 😊 Comment from : Kathie Garcia morales |
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PLEASE ANSWER LILI I LOVE YOUR VIDEOS!!!brWill agent's and sellers take Jerry Norton's proof of funds seriously ? i tried using a similar POF with an agent , i used a free website and it was a tranasctional funding and the seller literally laughed at me (very disrespectful smh) brbri was going to buy jerry norton's POF but will they take it serious? brbri keep coming across crazy potential deals but i lost some confidence in my POF :/ Comment from : d v l m l r s |
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Love your videos, you make everything so easy to understand Comment from : loc_queen_nell |
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Do i have to get the earnest money check From an escrow company? Comment from : eddie |
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Hey can you tell me how do I send EMD to an out of state title company Comment from : Tha Don |
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you and graham stephan are my favorite finance channels! Comment from : Israel Pelcastre |
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Hello we are building a home in New Mexico our realtor is telling us that the builder requires $15k of earnest money and that it is non-refundable if we back out we don’t have $15k sitting around we are pre-approved and the home is being purchased for $378,900 we won’t even move in until October but they want it now And I’m sorry I don’t have Instagram is there any way you can reply to me on here? Comment from : moderndesertliving |
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Great video; very informative! brbrOne way to ensure cash buyers don't flake out is to ask them to pay $5,000 EMD If they are serious cash buyers, that amount will not be astronomical to them This way, they're less likely to flake out and if they do, you will be compensated very well for the time and energy you spent on the deal Comment from : Camille |
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Can you give earnest money to the real estate agent? Comment from : ShyViell |
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I’m confused so essentially there is money needed to start wholesaling or that you should do off market deals first if you don’t have much capital untill you have enough to be able to do the deposit ??? Comment from : Jordin Hassen |
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Does earnest money go towards the cost of the home or is it a separate fee of its own Comment from : ShyViell |
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Do I have to submit the contract and the earnest money to a title company in the same city/town as the home that’s under contract? Comment from : Elliot Hilliard |
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You can also put in your offer sheet or talk to the agent you will respectfully submit you EMD after your inspection time, at which time your buyer is now submitting that EMD Comment from : Logan Callahan |
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Whats the difference between earnest money and a non refundable deposit Comment from : Becky Papanikolaou |
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What title company do you use or go to to deposit the earnest money? Comment from : Franklin Ameyaw |
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I love this because you actually explain the words Comment from : Alexs ideas |
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Hey! So basically I give my earnest money to the title company? (I don’t even know what a title company is please help :( ) and the cash buyer give me THEIR earnest mOney? I can get my earnest money back as long as I back out within the time period that the contracts says ? Comment from : Tatiana Calderon |
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Really enjoying your content Most agents ask for Proof of Funds What's your work around for that or do you have a POF Letter that you use Comment from : Oscar Robertson |
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Your channel is awesome Comment from : RHS Videos |
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I just came across this video and whooping information got me thinking! I will be tuned in every Wednesday Q&A Thanks so much!!🤗💕 Comment from : Javene Taylor |
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Ooookay, so BOTH the wholesaler and the cash buyer put down the same amount of earnest money to the title company? So that’s why you get yours back in addition to the assignment fee after closing? Comment from : modelchictoya |
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Well your using an agent So when using an agent you need earnest money When not using an agent is very rare you use earnest money Working with an agent does has it's perks though Comment from : King Gio |
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9:10 My mentor taught me "Whenever you're at risk of losing money, use business days in that part of the contract Whenever you're at risk of making money, use calendar days in that part of the contract" So my inspection period/due diligence clauses are always in business days, but my assignment agreement uses calendar days Comment from : jalabi99 |
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Lili is a legend!!!!! I love your videos Comment from : True |
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🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥 Comment from : FlipAStack69 |
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Closed my deal with $100 on a 85K purchase Maybe I got lucky! Comment from : Over the Hill Productions, LLC |
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What about proof of funds cuzzzz I’m broke Comment from : Myia LaShaun |
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Do you need to put down earnest money when you buy off market Comment from : Anthony Robinson |
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Hahayes you are right, I didn't know you were dealing with an agent on your deal I was referring to off market🙌🏽 Comment from : Dee G |
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Videos are very informative!!! Got me thinking 🤔 Comment from : Rashad Robinson |
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Very knowledgeable and easy to understand, Thank you Appreciate it! Comment from : Corey Johns |
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Another great and informative video! Thank you I am not so good with social media However, seeeeeeee you on Wednesday for the Q&A session :) Comment from : DeeDee |
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Hey I’m trying to get my first deal what if you can’t find comps in the area Comment from : TyDaKid |
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Do you pay for home inspections every-time? Comment from : Blanca Ash |
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With agents do you use your own title company? Comment from : Blanca Ash |
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Another Great investing video! Thank you for sharing your knowledge Comment from : Melanin King |
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Ive started wholesaling and I’ve been watching all your videos! Thank you for the awesome info and inspiration! 🙏🏽 Comment from : Johny Kash |
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14 years old!! Comment from : Naz Bugatti |
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