OfflineMy favorite contingency clause is:
Buyer to have 10 days from offer acceptance to perform due diligence before earnest money is considered non-refundable and is releasable to the Buyer at any time prior to that date.
This completely protects you from loosing your earnest money and the seller attempting to make it difficult for it to be released for any reason.
Plus it helps me sleep well at night with multiple offers under contract at one time.
Cheers,
Dave
__________________
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Has it ever been challenged and if so how would you re-word it or you use a secondary clause
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-
Buyer to have 10 days from offer acceptance to perform due diligence before earnest money is considered non-refundable and is releasable to the Buyer at any time prior to that date.
This completely protects you from loosing your earnest money and the seller attempting to make it difficult for it to be released for any reason.
Plus it helps me sleep well at night with multiple offers under contract at one time.
Cheers,
Dave
"Buyer to have 10 business days" By adding the simple word "business" you slip in an extra couple of days.
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
We usually say that the contract is subject to buyer's partner(s) approval. That way if we have to back out we have a clause, however we've never had to use it yet. Also we either offer $0 or a nominal amount of earnest.... Just in case
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
They must be non-mls deals. States like AZ where I live, you can't get away with doing $250 em like you can in KY on an mls deal.
I think the realtor contracts have the 10 business days on there for you. But, it doesn't hurt to have a clause there. It's usually customary to get your em back during the inspection period, bc the house won't work for whatever reason. As long as you give the agent notice on the 9th or even on the 10th business day by the end of the day, you should be ok.
Buyer to have 10 days from offer acceptance to perform due diligence before earnest money is considered non-refundable and is releasable to the Buyer at any time prior to that date.
This completely protects you from loosing your earnest money and the seller attempting to make it difficult for it to be released for any reason.
Plus it helps me sleep well at night with multiple offers under contract at one time.
Cheers,
Dave
"Buyer to have 10 business days" By adding the simple word "business" you slip in an extra couple of days.
Karen
And this is ...... Why we must read read read
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-
I have Inspection period to be 10 days, so my offers will be more competitive & I do use $300 EMD for KC MO but 1k for San Diego, diff markets.
Tony
Go faster do more! GFDM!
Yes, these are non-listed props. Listed must have at least $500 here.
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
and say that original check will be provided once inspection is done to partner's satisfaction.
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
Thanks for the contingency clause. Question, wouldn't this be the same as the 14 day inspection clause? If not could you explain the difference? Thanks in advance
Reynold Orozco