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Forums » Wholesaling Forum » Contingencies or Weasel Clauses

Contingencies or Weasel Clauses Subscribe to Contingencies or Weasel Clauses 4 posts by 3 users

Courtney S.

Real Estate Investor
Sunrise, Florida
No_avatar_forum_avatar

23 posts
Icon_minipost Posted: 09/28/2008 at 05:06PM

Now I know I need a Inspection clause in my contract but what about any other contingencies that I may need to place in there, would I place it on the purchase and sale agreement or an "Contract Addendum"? or it doesn't matter?
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Robin V.

Real Estate Investor
Reading, PA
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219 posts
Icon_minipost Posted: 09/30/2008 at 03:46PM

Because I often provide a contractor's quote with my deals I often put in my contract "this contract contigent on buyer's contractor verifying rehab numbers" or something similiar. That way if I need to get out of the contract sooner than final inspection I can.

Robin

Courtney S.

Real Estate Investor
Sunrise, Florida
No_avatar_forum_avatar

23 posts
Icon_minipost Posted: 09/30/2008 at 04:00PM

Ook. Do you place that on a Purchase and Sale agreement or Contract Addendum?

Jason C.

Real Estate Investor
Katy, Texas
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501 posts
Icon_minipost Posted: 09/30/2008 at 05:29PM

"this contract is contingent on business partner's approval" & "contigent upon final inspection" are what I use just in case I have to back out

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