L/O Contract Addendum Questions
I have a L/O on a property that the single Mom is rather desparate to leave. My contract is subject to a t/b contract. The realtor that brought me the deal suggested an Addendum that: a) gives me $1500 off purchase price [for] b); eliminating subject to t/b clause; 3) 1st pymt due 3/1; 4) option consideration not due until 2/10.
I've had the property advertised for 2 weeks, no showings, about 10 calls, tons of properties on the market here. My biggest concern is without the "out" in the contract, I could lose $20K? Thoughts, comments? Does anyone do l/o's without subject to protection?
Thanks in advance, Cindy.
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Thank you very much for your time and excellent response. I did what you said, I believe you are correct, this is the realtor looking for a commission from the next property transaction, nothing more. I feel much better sticking to my guns.
Greatly appreciated! Cindy.
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