Posted by jeff on June 11, 2004 at 11:47:50:
The contract is void without the deposit. You should becareful how you offer on properties. You may have committed fraud.
jeff
Getting around the deposit issue - Posted by Joe (Oh)
Posted by Joe (Oh) on June 10, 2004 at 20:27:42:
I submitted an offer yestarday, and the bank may counter. I put on the agreement a $500 dollar deposit amount, but I don’t have the $500, when they accept or counter, how long do I usually have before their counter/agreed signing expires?
what i want to do before it expires is have an investor partner with me and have him/her put up the deposit money.
Have any of you done this, and if so, any other reccomendations besides looking for these partners?
Thanx
Re: Getting around the deposit issue - Posted by fuzzlekins
Posted by fuzzlekins on June 11, 2004 at 11:59:48:
If you had to, couldn’t you put it against a credit card? Those companies love to give out checks. It’s not optimal in terms of interest, but the deposit check won’t get cashed anyway (not right away anyway).
Like the other person who responded, I would caution to think these things through before making an offer in the future.