All Purpose Contingency Weasel Clause - Posted by John (CA)

Real Estate Investing
1

Posted by John on August 07, 2002 at 23:07:18:

Here’s what my attorney and I came up with as a final contingency clause.

Inspection: This agreement is subject to and strictly conditional upon final inspection and approval of the property by the Buyer in writing on or before ________, 20. Absent delivery by buyer to seller of written approval this agreement shall have no force or effect and Seller shall immediately return to Buyer all monies deposited in escrow or paid.

Thanks…

2

All Purpose Contingency Weasel Clause - Posted by John (CA)

Posted by John (CA) on August 07, 2002 at 13:36:06:

Is the best, most encompassing ‘weasel’ clause to back out of a deal (in the event the numbers don’t make sense, change of heart, etc) simply to insert an inspection clause into your purchase contract, like this…

INSPECTION
This agreement is subject to the final inspection and approval of the property by the buyer in writing on or before____________(Date).

Any help on this is appreciated.

Thanks.

3

Re: All Purpose Contingency Weasel Clause - Posted by Tim Fierro (Tacoma, WA)

Posted by Tim Fierro (Tacoma, WA) on August 07, 2002 at 22:36:27:

Sure looks like a good generic one to get you off the hook. That could be your time to evaluate the finer aspects of the deal while leaving a way out.