A soft deposit, also called earnest money or sometimes called a good faith deposit is a deposit made to a seller on a purchase contract showing that a buyer is serious about purchasing a property and showing the seller your financial strength. This type of deposit is fully refundable if the buyer elects to terminate the contract at the end of the due diligence period.
Our Soft Deposit (Earnest Money) Program is unique because it is not a loan. We do not require credit checks, personal guarantees, collateral, or appraisals for the transaction.
This allows you to make the final decision if you want the contract to “go hard” at the end of due diligence.
Here is how the process works:
- Fee Structure is simple . 2% Monthly interest rate monthly of the deposit amount and 2.5% monthly soft deposit rate:
Example:
2,000,000 Purchase Price
200,000 ( Soft Deposit/ Earnest Money)
2% Monthly Interest Rate Fee = $4,000.00
2.5% Soft Deposit Fee = $5,000.00
Total Fee per month $9,000.00 for 2,000,000 Purchase contract and 10% Deposit.
*LLC registration and termination fees charged depending on State.
