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Tax, SDIRAs & Cost Segregation

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Christopher Bowen
Pro Member
  • Real Estate Investor
  • Washington State
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50
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Washington State Purchase and Sale Agreement Question

Christopher Bowen
Pro Member
  • Real Estate Investor
  • Washington State
Posted Jun 29 2015, 13:20

Hi BP,

Hoping a WA State RE attorney can help me out with the following question:

I'm the seller of a property where the buyer and I went into contract with a contingency for them to sell their property first before moving forward with my house. On form 22A (financing contingency) on number 2 in the first sentence, the buyer's agent crossed out the language "after mutual acceptance" and replaced it with "after form 22B is removed" (the buyer's home sale contingency form). The thing is neither I nor the buyer initialed this specific change in line, however, we both initialed at the bottom of the page in the standard location. 

The buyer's financing fell through because of credit issues that didn't come up in the pre-approval with Union Bank and they might drop the financing contingency and take the risk of finding money elsewhere, which scares me. My question is... is this amendment noted above that the buyer's agent added valid if we both (me and buyer) didn't initial in line? Ideally I would like to drop this buyer and move forward with another I have waiting.

Any help would be very much appreciated.

Thanks,

Chris 

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