Posted by Johnp SFL on February 21, 2002 at 07:45:14:
Paul, I got a better one. “Subject to approval of inspection reports”. So when the reports come back and everything is fine you don’t have to approve the reports. EX: The roof is good! No I only buy houses with bad roofs.
JohnP SFL
How can I stop bidders on the house I want - Posted by Chris DeGange
Posted by Chris DeGange on February 20, 2002 at 05:23:33:
I am trying to buy a two family (investment only)house in a market were there are a lot of buyers. What is the best way to get locked into a deal so other buyers can’t bid while it is attorney review. Where I am live in NJ, buyers are getting into bidding wars and the houses are selling above the asking price. The house I am looking at is $129K and can be rented for the summer for $14k and during the winter months for $1200 so I am not worried about the asking price
Re: How can I stop bidders on the house I want - Posted by SueC
Posted by SueC on February 20, 2002 at 09:44:33:
I think you’re stuck in one of those three-day out states, but email Ben (NJ) he will know. There may be nothing you can do, as the sellers can take three days to change their minds. I’m not sure, but wanted to just raise the issue in case.
Re: How can I stop bidders on the house I want - Posted by Paul S
Posted by Paul S on February 20, 2002 at 08:53:55:
Tie it up with an offer. Give yourself an “out” (a contingency I always use is “…subject to the approval of partner…”)
Speed up lawyer; remove contingency. NTXT - Posted by Brent_IL
Posted by Brent_IL on February 20, 2002 at 06:11:25:
nt