NEWBIE HERE, I think I can help with a short sale. But I know I may have to do a double close, or can I assign? If I had to double close what clause can I use as an “out” in case I can’t find a buyer? Please help and give me info if other options are available…
have the purchase contingent on a favorable inspection
What’s a double close?
Where do I put that into the contract? What is an favorable inspection? How will the bank look at this?
I put my contingencies at the end of the contract, before the signature line.
Favorable inspection is a good exit clause because its obviously subjective. What you think is a favorable inspection on the home is different than what the seller might think. I do not use this to squirrel out of contracts. You shouldnt need to get out of too many contracts if you do your proper due diligence and have more than one buyer in place.
Bank has not had a problem when I include this contingency in my contract.
gregg