OfflineWhat happens if i sign a purchase agreement with the intention of assigning the contract and for some reason i cant find a buyer to take over the contract. Will i have to pay for the house?
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Question about the purchase agreement
Posted on: Tue, 05/01/2012 - 18:10
In the purchase agreement there will be an inspection clause or due diligence clause. Give yourself 14 days for this and you will have that amount of time to find a buyer. If you do not find a buyer in that amount of time you can get out of the contract, just make sure you keep track of that 14 day time period.
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hey eroberts, thanks for answering that question, i have one of my own now...
If say you let the 14 day clause go by, what happenes after that?
1)would you loose you earnest money if you paid any earnest?
2)and if you didnt pay any earnest, what would be the worst case?