Offer Language Needed !!!

3 Replies

Hi, I'm stumped for language to include in an offer. The Seller has agreed verbally to us paying him $5k (for his pocket) plus the code enforcement liens and back property taxes owed on the property. We know the amount of the code enforcement liens owed. However, the county is taking forever to calculate the exact amount for back property taxes owed. Several tax certificates have been purchased over the years... dating back to 1996. I have not been able to get an exact amount from the county, and now they are requesting an exact close date. Well... I don't have a signed contract yet because I need language for the "purchase price". What language can I use to make the Seller an offer that does not have an exact amount? I was thinking of stating a max amount (inclusive of the $5k) that we'll pay him for the property... but I don't want to shoot myself in the foot by overstating or underestimating the property taxes. Any suggestions?

P.S. We are not doing a quit claim on this property.  And, we need to tie the property up quickly b/c other investors are calling the Seller now. We plan to wholesale the property.

Off the top of my head.....

“Buyer will buy the property for $5,000 paid to seller and subject to all outstanding liens. Buyer shall assume the responsibility of paying all liens.  However, the buyer shall have the right to cancel this contract within XX days if the outstanding liens are found to be over $XX, and if canceled due to this reason buyer shall be refunded the EM of $XX.

Originally posted by @Wayne Brooks :

Off the top of my head.....

“Buyer will buy the property for $5,000 paid to seller and subject to all outstanding liens. Buyer shall assume the responsibility of paying all liens.  However, the buyer shall have the right to cancel this contract within XX days if the outstanding liens are found to be over $XX, and if canceled due to this reason buyer shall be refunded the EM of $XX.

Thanks Wayne. Sounds good to me. Definitely gives me something to work with.