Rental Property Investor · Yuma, AZ · Member since 2019 · 637 posts · 46 votes
It says: It says this:
INSPECTIONS: The buyer shall examine the property to determine that its in habitable condition, AS IS. If buyer does not report a functional defect or damage to the property within 60 days of signing the Lease Option Agreement, any such item or issue not so noted shall be considered by seller and any other third party, if later discovered, as having been brought about the buyer, and not the responsibility of seller. If, within that 10 day period, any necessary systems (i.e. electrical, plumbing, heating) ceases to function, seller will repair it at seller's expense. Thereafter, such systems and items as are not noted by buyer within the 60 day period shall be buyer's responsibility.
Accountant · Atlanta, GA · Member since 2015 · 1k+ posts · 1k+ votes
7y
Respectfully, you've been spamming this subforum with questions all day about a contract you're (I suppose) about to enter into.
I counted 16 posts in the last 24 hours.
When you read that paragraph, what conclusion do you come to? 60 days or 10 days? "I don't know" isn't a good enough answer. What do you think the answer is?
Do you intend to do this for every deal you do? Ask strangers on the internet to interpret every paragraph of a legal contract for you then rely on their answers to determine whether or not to execute?
Accountant · Atlanta, GA · Member since 2015 · 1k+ posts · 1k+ votes
7y
Respectfully, you've been spamming this subforum with questions all day about a contract you're (I suppose) about to enter into.
I counted 16 posts in the last 24 hours.
When you read that paragraph, what conclusion do you come to? 60 days or 10 days? "I don't know" isn't a good enough answer. What do you think the answer is?
Do you intend to do this for every deal you do? Ask strangers on the internet to interpret every paragraph of a legal contract for you then rely on their answers to determine whether or not to execute?
The only problem is that is not legal advice. Look at the people responding, they're not attorneys or legal professionals, nor has anyone seen the entire contract. They're just commenting on one paragraph at a time. That's not a good way to analyze a contract/agreement. I'd be interested in seeing how this deal turned out in 24 months...
The only problem is that is not legal advice. Look at the people responding, they're not attorneys or legal professionals. I'd be interested in seeing how this deal turned out in 24 months.
Getting legal advice from BP, is like getting stock market tips from your cab driver..both usually won’t end well.
Rental Property Investor · Yuma, AZ · Member since 2019 · 637 posts · 46 votes
7y
@Caleb Heimsoth @Eamonn McElroy I went with attorneys to understand the contracts and they told me im crazy that I cant get a house with discount and I cant do a lease option. They didnt even read the contracts.
I still need to do like 10 more posts ;)
And if I fail at least I tried and I will do it again. Just because attorneys won’t help me doesn’t mean I won’t do anything.