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Some REALTORS® will collect earnest money from you before they submit your offer. Others will coordinate the earnest money drop off after an offer is accepted. Whatever your scenario is, make sure that your earnest money is delivered on time and in the proper payment form. This information is typically agreed upon and documented in your sales contract.
A lowball offer can save you money, but it isn't always the best technique for the buyer.. A top agent can you help you make the right offer and get your. in the yard and how many times they've replaced the plumbing.. The housing market will give you a good idea of what to offer when buying a home.
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In general, letters of intent are not binding. They simply state that two parties have reached a general agreement and will work in good faith to work out the final terms. At a later date, when final terms are agreed to, both parties would sign a binding “purchase & sales” (P&S) agreement.
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Again, all of this should be clearly expressed within the purchase contract. Review this document with your real estate agent, and make sure you understand how the contingencies work before submitting the offer. Who holds onto the money when the offer is made? Normally, the buyer gives the earnest money payment to an escrow or title company.
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I don’t know how to go about submitting the offer under my name to get it under contract myself, to avoid possibly being cut out of the deal since i am only the wholesaler. I would hate to submit the offer with my end buyers name and then simply be cut out of the deal. Can anyone help me with a solution?