Question regarding Contingencies (Exit Clauses)

Hey,
dantheman24 contracts and contingencies are one in the same!Use an purchase contract that suits your needs,If you are going to run a second page(Addendum = contingent)pay the re attorney cost.There is one thing i have learned thru Dean Graziosi...See the big picture and GET YOUR TEAM,Believe it or not(You might not work as hard when you get set up)!And do not be tight...When it comes down to contract.

so do i consult the attorney about the addendum? and how much do i have to pay him for these contingent to be included in the contract?

rosefield is right you do need to assemble a team to be successful.at this point it is not necessary to have an attorney write up the contract "purchase agreement" you already have it although if you feel you dont understand it or your signer"seller" doesnt understand it then you both have the right to have an attorney go over it with you. the most important part of the purchase agreement is to add in the addendum contingencies that protect you for a way OUT of the contract providing you cant assign it to another .some contingencies i and others use r
1.this contract is contingent upon buyer obtaining financing......hence if you dont have the money to buy and cant get financing through an assigner you cant buy!! right?
2.sale contingent upon final inspection that satisfies buyer or assignor
3.sale contingent upon partners approval
4.this sale is contingent upon property meeting all building codes and zoning laws
5.sale contingent upon satisfactory pest inspection
6.sale contingent upon water and sewer test that meets buyer satisfaction

you can add as many as you like but just make sure you have a few ways out such as these examples.you dont need all of them but i would reccomend at least the first three!! great job on getting the first deal in motion.lets hear about it when you go through the process!!good luck!!

thx for the response jbt but my question how are these contingencies included in the contract? im aware of all of them you mentioned, but i dont know how to include them in the contract, do i just write them out just like you have it?

anybody? i want to get everything right before i present the contract to the attorney so he could see everything was done correctly, im still unclear about how EXACTLY these contingencies are included, do i just write them myself on the contract itself, if any1 could enlighten, i would appreciate it.

yes you write them in the contract as an addendum-seperate sheet or include them in the body of the contract.it doesnt matter where as long as it is in there and the seller reads ,signs and agrees to it you r covered to escape the contract if need be. put it in the contract just as above less the hence sentence.