Posted by Bud on January 30, 2003 at 19:45:23:
I have written purchase agreements w/o seeing inside the house. Sometimes you have to do it to get your offer considered first. What I do is add a clause that offer is subject to inspection of the unseen portion of the house. Good luck!
duplex purchase. - Posted by Angela
Posted by Angela on January 30, 2003 at 18:53:12:
We are looking @ a duplex to buy- owner financed- 3% down. Both sides are rented at this moment. One side will stay rented, the other we will be living in. Which means they will have to move when their lease is up (in April). The owner of the property wants us to sign a letter of intent before telling his renters they will have to move. We have not seem that side of the duplex as of yet. We don’t feel comfortable signing until we see that side of duplex, he doesnt want to loose a renter if we don’t buy, by telling them now. How binding is a “letter of intent”?
Thank you.