Updated over 5 years ago on . Most recent reply
Lease Contingency Clause / Sales Agreement
I want to purchase a new 6 bedroom duplex in Phila . Two uniits with 3 bedrooms and 3 baths per unit.
The pro forma for the property projects top dollar in the zip code. If rentals hit the $4300 projected for
both units , the property will cap rate at 6.5%. Expected returns,6.5% , for new construction returns in
phila. I want to include a " lease contingency clause " in the agreement to give me time to obtain
two leases to hit the combined rentals of $4300/ month. I need ,sensible and fair ideas for seller and buyer, how to present the terms of
the contingency clause in the sales agreement.