What contingencies should be included in an As-Is contract other than:
Contingent upon final inspection and written approval
Contingent upon all buyer partners approval and due diligence
Escape Clause - What’s included in an escape clause, please explain and include the language PLEASE?
Have I forgotten anything?
Thanks in advance all!
If you want a pretty all-encompassing clause, you can use:
“This offer is subject to and conditional upon the buyer doing further inspections of the property, and if, for any reason, based upon the buyer’s sole discretion, he/she believes this purchase would not be to the benefit of the buyer, then the buyer shall have the exclusive right to hold this contract null and void by giving the seller written notice of this belief at least 10 days prior to closing.”
With one strong escape clause you may not need the other two.
You could replace ‘10 days prior to closing’ with ‘within 14 days’ or however many days you need for due dillgence. As always, ‘verify all legal advice with your attorney.’ 
Thanks in advance for your response.
So what would I include as an escape clause? Do you know what language I could use or should I use both escape and the language you included below?
Just wondering why the language suggested by creativerealestate is not an “escape clause”.
What is your definition of an “escape clause”?
My definition of an escape clause is something giving me the buyer several options that would allow me to be released from the contract
Any why doesn’t the language suggested by creativerealestate do exactly that?
“for any reason, based upon the buyer’s sole discretion,” seems to give you an infinite number of excuses to cancel the contract.
If “SELLING” As-Is, what contingencies should be included in the contract?
If “BUYING” As-Is, what contingencies should be included in the contract?
The contingencies you have listed suggest that you do not want to have any skin in the game at all. They are referred to as weasel clauses, and you don’t want to be a weasel. The only thing you should be concerned with is making sure the contract is assignable. Simply add “and/or assigns” to your printed name. If there is a “no assignment” provision within the contract, cross out and initial.
Yes, creative gave you a good answer, you only need one well written clause. I would reword creatives clause but it gives the gist of it. I only want the out in case I do find a real problem, but I don’t consider the fact that I didn’t find a buyer within 30 days a good reason. If that is the purpose then give the seller that fact upfront in your contract and make that another escape clause, don’t hide it in the catch all clause.
In this case maybe you should be finding the buyer first and then the property for him second, thus tying up the seller exclusively for only a very short time while your buyer checks it out. You can even have a clause that gives you a non-exclusive option to buy after the initial period thus eliminating the sellers worry about you doing your side because he still has the right to sell it himself. How often does the seller find a buyer, very rare, and in my case it was a back door investor that depended on stealing other peoples deals in progress for his business. And if it is that good of deal you exercise the option and keep the deal for yourself and close, or find a buyer or a partner, or even a lease-option depending on the property, or something else in your toolbox. If you know it is really a good deal, then make the option exclusive by giving the seller a $100 option fee or whatever.
Thanks for asking this. I was wondering the same thing.