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Rob Schock
  • Real Estate Investor
  • Surrey, British Columbia
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Escape clauses

Rob Schock
  • Real Estate Investor
  • Surrey, British Columbia
Posted Oct 31 2009, 15:50

Hi All,
I'm new to this site so my apologies if this has already been addressed elsewhere.
I'm working with a Realtor on short sales. My plan is to wholesale the property or assign the contract. I have transactional funding in place, but of course the funds for the A-B transaction won't be released until we have the funds for the B-C transaction in place as well.
I'm using the standard PSA agreement because Realtors, loss mitigators, and title companies seem to like them.
What I'm asking about is what wording could I use in the contract to indicate that if I don't find a buyer I don't close. I hate to call it a "weasel" clause because that sounds so shady, but fact is I'm doing this to make money. If I can't find a buyer I want out of there to move on to the next deal.

Any suggestions?

Rob

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