Posted by Ward (CA) on March 24, 2001 at 16:45:51:
I’d just write it in as one of the purchase conditions on your purchase contract. If there’s not enough room on the purchase agreement form then just use an addendum for the “subject to” agreement and attach it to your purchase agreement.
If you want a form for an all-purpose “Addendum” just give me your email address or your fax number and you’ll have it same day.
Subject to deal…agreement before closing? - Posted by Mike (IN)
Posted by Mike (IN) on March 24, 2001 at 10:35:25:
How do you secure a “subject to” deal before closing? (When I buy using a lease/option…I use Bronchick’s lease/option agreement to secure the deal) I don’t see any type of purchase agreement form to use for a “subject to” deal.
Do I just get them to sign a warranty deed and take care the rest of the paperwork later (trust agreements, notorize everything)?
You can’t have them sign a warranty deed and “notarize everything” later, since the seller’s signature has to be witnessed by the notary.
When you talk about securing the deal before closing, I presume you mean, “How do I keep the seller from backing out and/or selling to someone else?” The best way is just to use a standard purchase and sale agreement. I don’t recall whether Bronchick has a P&S agreement posted on his site…but if all else fails, just use one from an office supply store and fill in the blanks.
But bear in mind that if a seller really, adamantly wants to change his mind after agreeing, but before closing, it’s often easier/cheaper to just let him do it and move onto the next deal.