What's everyone doing with deposits and LOI and how are you covering your ass if you put one down? Currently have LOI out, w/o deposit, edits came back w/ a 5% deposit which is short money in the grand scheme of things. But they want it to be non refundable after 60 days. Their thought was we should have a signed APA at 60 days, and I've only ever signed an APA at close w/ funding.

This is a service businsess w/ PM contracts in place, ~8 employees (3 of whom are key)., backlogged revenues, ect. So not a super straight forward deal and I anticipate schedules being a bit more complex than "N/A" for 90% of them.

For refence, about $1M transaction value.... 5% is short money, but the concern between the gap of the 60 days post LOI and close leaves a lot of questions..