OfflineHope someone can help me out. I know that I should be asking my attorney but, I want to at least know what I'm talking about when talking with a attorney and besides I know that one of you seasoned investors know.
But anywho, in this Purchase Contract, it's attach below, where it say INSPECTION. Is that my contingency (back out plan) or do I need to add a contingency on here?
PS: Both contracts are the same. Just different format.
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I see no time frame for inspection period. Like 10 days or whatever. Nor an explanation of what happens to your earnest money.
Your contract should have a line that states: This contract is assignable.
Personally I do not like this contract and I would not use it. Take it to an attorney and have it revised.
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Michael Mangham
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
You wouldn't use this contract as the seller, nor buyer?
Click on this link to view what I updated.
http://www.sellyourhousefastnow.info/wp-content/uploads/2012/06/Purchase...
I took out the EMD but, put it back in and also added that this contract is assignable. I thought I could have took out the EMD to make the deal a NO MONEY DOWN. But, check out the link in this post, which is updated.
Also, I'm on a tight budget. Don't have the option to go to a attorney for that.