You probably know that putting contingencies in your Sales and Purchase contract throws up red flags to motivated sellers, and who wants to do that? Not me.
So how do you protect yourself without alarming the seller? You do that by adding one specific clause to your sales and purchase contact.
I always point this clause out to my seller and explain what it means. To date, I've never had a problem or had a seller want to back out. It's definitely much better to point it out than to simply ignore it and let the seller find the clause. You will have a problem if you do this.
What is this Clause You Need in the Sales and Purchase Contract?
I call this the magic clause that covers just about everything. So here you go…
“Contract is subject to partner approval”. So what exactly does that mean? It can mean just about anything you need it to mean. Rather than put a bunch of contingencies in the contract, add this one sentence in your standard sales and purchase contract.
I will explain how to use this clause and exactly how to explain this to the seller in this short video.
Here's Your Video – Special Language for your Sales and Purchase Contract
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You Can Listen to the Podcast Here
[podcast title=”Sales and Purchase Contracts: Protect Yourself with this Language”]http://traffic.libsyn.com/letstalkrealestateinvesting/Contract_Lauguage_1_sv.m4a[/podcast]
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More on Contract Language
Click Here to learn the one sentence you MUST put in your sales and purchase contract when buying probate property.
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