So I am looking to purchase my first bare land property. This property is FSBO so there will not be a realtor involved. I was making up a purchase agreement and wanted to add a contingency regarding septic approval. The wording I found in other purchase agreements was the following:
[ ] (A) Development Approvals. This offer is contingent upon Buyer obtaining all requisite approvals from any governing body having jurisdiction for construction or development of the property as *** ____________________. *** Buyer is to have until _____________ to obtain approval in final, nonappealable form, upon conditions acceptable to Buyer and Seller or this contingency shall be deemed waived unless BUYER shall notify SELLER in writing no later than _________ 20____ of Buyer’s inability to obtain said approval. If BUYER so notifies, then this Agreement may be extended by written mutual consent of the BUYER and SELLER or shall be deemed canceled, null, and void, and all deposits made hereunder shall be returned to BUYER. Buyer and Seller agree to make joint application by __________ and diligently pursue the application.
My question is what goes in between the stars?
Any help would be appreciated!
I'm pretty sure the blank is subjective and is to be filled in with what TYPE of Development you intend to use it for. (Example: SFD, MultiPlex, Commercial)