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Real Estate
Reply to "Earnest money in MD - where do buyers come up with 5-10% before selling their previous home?"
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[quote=Anonymous]OP, we're in a similar situation - not a ton of extra cash at the moment and lots of cash tied up in real estate. We just put down $50K on a 1.75m house and that is all the seller required as earnest money. This is in 20815. If it is a competitive bid process, I guess it might be a factor, but honestly I would thinkif I were the seller I would want to know you could close, not how much money we get to hold in the meantime. I doubt most people looking at a $1m to $2m house would walk away from $50K just for fun, you know?[/quote]
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