Guys,
Just wondering…instead of worrying about clauses in a Purchase Agreement, could you just sign an Option to Purchase and Assign that to your Buyer?
Yes, as long as the option you write up is assignable, there is no reason that you can’t do that.
Thanks Tom. I just wanted to make sure I was ok doing it this way before I tried. It seems like this way eliminates some of the tension that may be created if you have to walk away from a deal.
Yes, I agree. You can be upfront with the seller and let them know you might not excercise your option so in their thinking it isn’t “sold”. Not to mention, they can keep the option fee no matter what happens.