OfflineHi all,
I am looking for a contract that would be done with a seller that would allow me to purchase their property at any given time, within certain dates.(the ending date could be extended.) This contract doesn't deny the seller the opportunity of selling to someone else at any given time or listing it with a realtor, if that is their desire. It gives me a contract to advertise the property for sale and assign it or the contract to the buyer. I was just wondering if anyone has seen any such contract or if I need to write one up and have it checked with an attorney.
Blessings,
Vincent(footsoldier)
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Abundance Is Our Birthright
http://vanoeinvestments.com
http://www.connectedinvestors.com/REI-group/connected-investors-of-green...
Agreement to purchase is on this site down in Forms and Docs.
You could add a stipulation/clause within your P&S contract stating that the Seller is allowed to receive back-up offers from other buyers. That way you're not tying up there property. You're letting them know that while you have their property under contract, they can still go ahead and receive other offers from other buyers and that "same" clause should also eliminate the fact of you putting any earnest money down. Hope that helps and Good Luck.
D'Angelo
"A Winner Never Quit And A Quitter Never Win!"
Just a curiosity question, but why would you want to do that? Seems like it would take your bargaining power out when you talk to buyers. It's not really locked up then, right?
Sheila
"If God is for us, who can ever be against us?" Romans 8:31 NLT
I guess you would call it a "floating" contract?? LOL
You're right Sheila...it does, but to each his own.
"A Winner Never Quit And A Quitter Never Win!"
I suppose if a particular seller won't let you lock up their house, then you are better to get a shot at it this way than none at all. However, I wouldn't spend too much time invested in finding a buyer on just this one deal. Buyers can also wait for your contract to expire and go around you that way, but I would like to think that I had at least 30 days of exclusive rights to the property, so that I know I'm not wasting my time and resources. I don't think most legitimate moral buyers would do that anyway. I also have a problem with investing my time selling a property when the seller is still trying to sell it to someone else at the same time.
Don Angelo had some good insight on the type of contract to use to get it done though! Good luck!
Sheila
"If God is for us, who can ever be against us?" Romans 8:31 NLT