contract help - Posted by Bryce

Posted by Brent_IL on August 20, 2003 at 17:00:52:

You need a real estate lawyer. Legal fees are cheap when compared to litigation costs, and that’s where you are headed. Many title companies will be unable to issue title insurance policies with a homegrown contract because a lot of clauses turn up incomplete or incompatible.

RE lawyers get paid out of escrow. If the deal won’t support $300 for an attorney, it is not a deal.

My entire subject-to contract is, “Subject to the following encumbrances and conditions:” It’s the 5,000 words that surround that phrase that makes a difference.

contract help - Posted by Bryce

Posted by Bryce on August 20, 2003 at 16:02:58:

I am in the process of putting together a subject to deal. I have a good idea of the wording to use in the purchase agreement, but if anyone could share the exact phrase they use in the “subject to” part of the contract that would help a lot.