The right purchase agreement

[Geoff Woods]

Hello BP Members,

Many of us are familiar with the concept of "find the deal first, and the money will find you". However, I am learning that a typical offer will give you escape clauses for inspection/appraisal, etc. It seems that the more seasoned investors have their own agreements that they submit as an offer that gives them much more wiggle room to get out of the contract if they feel the deal is not desirable and/or they cannot raise the money.

I am looking for direction on what those agreements should look like...

1. What are some examples of clauses you include that give you flexibility to cancel the contract?
2. Any good attorneys you can recommend that can put one together that won't break the bank?

Bottom line, I want to be able to get more deals under contract, but also want to protect myself so I don't have to spend $500-$1,000 on inspections and appraisals just to get out of each deal.

Thanks in advance for the feedback!

Geoff Woods
858.900.1159
[email protected]