Lease Option Contingency Clause

Is anyone here using a contingency clause to help us as investor to back out if we cannot find a tenant/buyer in time?



What is the exact text are you using?



Thank you.

Comments(3)

  • LeaseOptionKing13th December, 2006

    You have to be careful with the wording on such a contingency, lest it raise the eyebrows of the real estate commission. I use a nonexclusive clause, so I get to back out in 30 days for any reason or no reason at all, and the Seller expects (and receives) no up-front cash.
    [addsig]

  • ypochris13th December, 2006

    A 30 day inspection period works.

    Chris

  • BlaiseLiu15th December, 2006

    Yes, if possible, can someone show us a sample sentence?

    Also, why use an inspection clause? How to use it to back off? Do I have to come up with an inspection saying the house is flawed?

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