OfflineCommon Clauses
Refer to this list of common clauses when you are preparing a Purchase and Sale Agreement. Add them to the Addendum as needed.
1. This offer is subject to buyer’s walk-through inspection and/or buyer’s partners’ walk-through inspection and acceptance of same delivered to seller within thirty days of seller’s acceptance of this offer to purchase.
2. This offer is subject to property inspection by a licensed home inspector, the results of which must meet buyer’s satisfaction.
3. Buyer has the unqualified right to assign his interest in this contract prior to settlement to any person, corporation or entity which he may designate.
4.This offer is subject to approval of buyer’s associate within thirty days of acceptance.
5. Buyer reserves the right to show the property prior to settlement for the purpose of either renting or reselling it, and seller agrees to permit access to buyer at any time from the date of this agreement up to the settlement date.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
Would these clauses work with REO property? I'm making offers on the premise that I have ALL CASH via private money. I plan on wholesaling the deal, so I need "time" to find an end buyer. I already tried "subject to partner's approval" and the agent told me that would be the first thing the bank would nix. So, now I have an inspection clause, but California's law only specifies a 17 day max. The banks are even trying to push the inspection to a shorter time frame like 10 days. What clauses can I use with the bank to allow myself more time to find a buyer without them getting suspicious?
Use these two:
- Buyer has the unqualified right to assign his interest in this contract prior to settlement to any person, corporation or entity which he may designate.
-Buyer reserves the right to show the property prior to settlement for the purpose of either renting or reselling it, and seller agrees to permit access to buyer at any time from the date of this agreement up to the settlement date.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote