Agreement contingent on....?

[Jerry Brecko]

Whats a good contingency to put in an AOS that will allow me to back out of agreement if needed on any deal.   I have to stop using contingent on financing and change to cash because too many sellers are turning me down for lower cash offers.

[Nathan Gesner]

Every purchase agreement should automatically include an several contingencies that will allow you to back out. I heard a podcast with a BP investor that buys large commercial properties. He writes all-cash offers with $100,000 earnest money without even seeing the property. Why? Because the Seller will see this as a strong offer and accept it over others but the Buyer can walk through the property and change his mind based on the floor plan, condition of the roof, strength of the leases, or a thousand other reasons.

Read your contract. You can typically back out based on things discovered during the property inspection, review of leases and/or financials, appraisal, financing terms, title review, etc.