What % of the purchase price should the earnest money deposit be for a multifamily transaction?

In Buying Property - Asked by Dwight B. - Jan 29, 2010
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Answer(s)

madison p.
Owner/Investor
Grayson, GA

It depends on how many units, a 5 unit can go for 200k I would give 1000 EM, a 5 million dollar property I would put 50k in EM

Jan 30, 2010
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Doug F.
Broker/Agent
Portland, OR

I usually require a minimum of 1% of the purchase price.

Jan 31, 2010
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Todd W.
Developer
marietta, GA

My rule of Thumb is 2%

Jan 31, 2010
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Brandi L.
Oak Brook, IL

Dwight, You have alot of questions. Have you considered expert representation? An experienced multi-family broker in your area can help guide you through the process and is often conpensated by the Seller.

Feb 1, 2010
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