Lease Option Contingency Clause
Is anyone here using a contingency clause to help us as investor to back out if we cannot find a tenant/buyer in time?
What is the exact text are you using?
Thank you.
What is the exact text are you using?
Thank you.
Comments(0)
You have to be careful with the wording on such a contingency, lest it raise the eyebrows of the real estate commission. I use a nonexclusive clause, so I get to back out in 30 days for any reason or no reason at all, and the Seller expects (and receives) no up-front cash.
[addsig]
A 30 day inspection period works.
Chris
Yes, if possible, can someone show us a sample sentence?
Also, why use an inspection clause? How to use it to back off? Do I have to come up with an inspection saying the house is flawed?