FSBO

General Real Estate Investing
1

After you’ve seen an FSBO property, ran the numbers and the numbers look good. Do you do an intent to purchase with a home inspection contingency clause or do you do a purchase agreement with a home inspection contingency clause? :help

2

I would do a Purchase Agreement…it has the validity of a contract…an intent to purchase has the validity of…well…squat.

Just my two cents.

Keith

3

Thanks Keith, I’m a newbie and people are always talking about putting a property under contract on this site but I never know if they mean a purchase agreement or a intent to purchase agreement.

4

Once both parties sign the Purchase Agreement, it is a binding contract - but you still have an “out” with the inspection clause, if you need it. If you do an intent to purchase, you still have to do a contract, so what have you really gained with it?

Keith