When you make an offer on a property such as an REO property, is this cosidered a contract if they accept? Do you have to put an escape clause in with an offer to buy a property? In the chance that i would have 2 offers accepted at the same time.
TIA,I just went to my real estate club meeting.He said when in doubt write it out.If you dont write it out it is your word against theirs.And he said you always want to have an escape clause.eather mortgage clause,pest clause,home inspection clause,ect.I hope this has helped you.Michele
hehe, TIA=“Thanks In Advance” appreciate your response.
Sorry Iam stupid some times.I cant help it.Im glad you got a laugh out of it so did I when I read what it meant.MIchele
If you have to ask that question you are not ready to purchase property. Study, study, study. What do you think you are doing when you make an offer? And what are you going to do when your offer is accepted? If you don’t have this planned out long in advance, stop making offers until you have a sensible plan.
When you make an offer on a property such as an REO property, is this cosidered a contract if they accept?
Yes. That is why they call it a contract.