Re: ABSOLUTELY!! - Posted by Sheik
Posted by Sheik on April 07, 1999 at 10:21:37:
What you described IS one of the easiest to tie up a property. As to how often one will be able to pull it off is another story.
Not only are you asking this seller to take his/her property off the market for 6mos (and MAYBE) you’ll purchase but you are (have to ) ask for a discount as well (unless, of course, you are running a non-profit company).
I ask you…how many times have you pull this off? 2?..3?..or maybe none!
Your theory (and that’s what it is…Theory) is analogous to saying…It’s easy to become a Millionaire - all you have to do is get a million people to part with $1 which they will give to you (or something like that).
I prefer to go in contract with one contingency clause (which, if you think about it, IS in effect an option to purchase). This will be much more credible in the seller’s eyes. I don’t know about other areas, but where I am, sellers EXPECT that any offer will be contingent on at least an inspection or financing.
Just my $000000.01