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Real Estate
Reply to "Protection Against Flaky Buyers"
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[quote=Anonymous][quote=Anonymous] In California real estate, agents protect against flaky buyers by: (1) requiring an earnest money deposit of 20-25% on any contract; (2) allowing only a five-day window for inspection and release of all contingencies; (3) contractually scheduling the closing no more than twenty days after the offer is accepted; (4) requesting that the 20-25% deposit be transferred from escrow to the seller upon the release of all contingencies; (5) accepting offers with no financing and inspection contingencies; or preferably (6) accepting only all-cash offers. The last two make total sense. The only real-estate transactions that should occur are with pure cash transactions. But, I still think that isn't enough. I think 100%, plus 10% should be put in escrow with every offer - just to make sure. [/quote]
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