binder deposit: Binder Deposit Requried? - 02/04/10 06:21 AM
In the state of Florida if a buyer wants to buy a piece of real estate by law, they are not required to put down a binder deposit or earnest money.  Some people think they are required to and that's just not the case.
 There are situations however where the seller will require (or ask) that you put one down or they won't even consider your offer.  This is typical with REO's and foreclosures; this is legal and their choice.
It is not unreasonable to put a binder down as a buyer, since it lets the seller know that you are … (0 comments)