Some Kind Of Contract/Agreement Help Please
I have a SFR that I am rehabbing and have a tenant/buyer (I only do L/O's) wanting to pay the differance between the cost of carpet to laminate and from standard lowes countertop to granite countertops. I would like to have some kind of agreement/contract that requires him to pay this up front (the diff) so I don't take it out of my pocket and then he backs out. Any suggestions on how I would go about this?
Thank you
I would suggest treating these like options in new construction -- in other words, in your contract with the tenant/buyer, specify the custom items and their respective cost and say something like the T/B agrees that monies for the custom options will be paid for by T/B in advance of their installation. Also, state that the custom options installed shall immediately inure to your benefit and the T/B shall not be entitled to a refund for these items.