Posted by Brian Hall
on 3/16/2004, 8:04 am
205.143.37.68
When negotiating the deal with the seller, how do you structure the "weasel clause" and it's date so that you can walk away without being obligated?
Do you inform the seller that you are going to market the property and that the last possible date would be the best for allowing for no buyers? I may be on a tangent here, but, it seems that you would be representing that you are going to purchase using the esixting financing and a down payemnt and that once you pass the "subject to" dates, the contract would be binding. And if you had an inordinate amount of time alowed to walk away, wouldn't that be exactly the opposite of what the seller needs in a fast sale? Let me know what I am overlooking please.
Thanks!
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