Updated over 6 years ago on . Most recent reply
Contract sale improvement language
I'm working on a seller financed deal for 4 house and after reviewing the contract everything looks good except the following:
X. Changes and Alterations. Without the written consent of the SELLER first had and obtained:
A. Neither the purchased Real Estate nor any part thereof shall be removed, changed, remodeled, painted or altered in any way whatsoever; and
B. No additional improvements of any kind, including, but not limited to, outbuildings, fencing or landscaping shall be placed on the purchased Real Estate.
I sent the seller an email asking about it. Is this pretty typical in a contract sale? This is my first one. Part of the attractiveness of the deal is there is a lot of add value to the properties, and I could get a loan to get all my initial investment back out after the improvements. With this is sound like I have to ask before I do anything, correct?