Contengency clauses? - Posted by JB

Real Estate Investing
1

Posted by Randy on August 02, 2003 at 14:34:17:

This Offer is Subject to:

  1. My Partners Approval.
  2. Buyer securing Suitable Financing.
  3. An Inspection at the (Buyers/Sellers Expense).
  4. A Certified Appraisal at the (Buyers/Sellers Expense).
  5. Buyers Final Approval after Performing Due Do-Diligence as to suitable financial performance of investment.
    (May require some explanation Mr. Seller if after reviewing the entire package I/my company determine this purchase to be a non-performing we can?t precede).
  6. Buyers Final Approval as to suitability.
  7. Buyer securing a tenant.
  8. Seller/tenant Vacating by (Date)
  9. Seller clean-up, repair?or any other condition you want corrected.
  10. Richard Nixon Re-elected as President.
    The point is you can put any subject to condition you desire. Does NOT mean the buyer will accept it?but you never know.
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Contengency clauses? - Posted by JB

Posted by JB on August 01, 2003 at 18:47:04:

I have a potential wholesale deal in the works, but I am not so sure of the market and would like to add a contengency clause to my contract. Is there anyone experienced with this that has a good escape clause I can use in case I can’t find a buyer before the end od 30 days??? I am guessing I wouldn’t want it to say that “this contract is subject to me finding a buyer” that would probably kill the deal??? Any help would be appreciated.
JB