Comments on: Earnest Money http://thephoenixagents.com/earnest-money/ Chris Butterworth - sharing thoughts on real estate (and everything else.) Sun, 13 May 2012 07:46:19 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Steve Belt http://thephoenixagents.com/earnest-money/comment-page-1/#comment-524 Steve Belt Thu, 20 Dec 2007 17:09:34 +0000 http://northphoenixagent.wordpress.com/2007/12/20/real-estate-glossary-earnest-money/#comment-524 At a GRI class, I heard some interesting guidance from an instructor once. He said he recommends to his clients to always put $500 or $1000 (I forget which). And then, if the seller requests more earnest money in a counter, he re-counters agreeing to that increase in earnest money, so long as the seller matches it. His thinking, why should the buyer be the only one with a ton of earnest money? Make the seller put up earnest money for cases where the seller may breach as well. I'm not recommending this in any way...but I thought it was an interesting perspective. At a GRI class, I heard some interesting guidance from an instructor once. He said he recommends to his clients to always put $500 or $1000 (I forget which). And then, if the seller requests more earnest money in a counter, he re-counters agreeing to that increase in earnest money, so long as the seller matches it.

His thinking, why should the buyer be the only one with a ton of earnest money? Make the seller put up earnest money for cases where the seller may breach as well.

I’m not recommending this in any way…but I thought it was an interesting perspective.

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