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.