just got 2 agreements signed to buy 2 SS properties…I have the financing in place to purchase, negotiator at the ready…my question is how to explain to the C buyer the process. I need to disclose the process but need the language.
Good to meet you
You mean the process of waiting? BTW There are clauses you need to incorporate into your agreement to protect your interests if the SS dont work out…
Try to incorporate something alone the lines; the dates in this agreement do not begin until the seller delivers to the buyer formal written proof of acceptance by the lender(s) to a reduction of principle balance and said reduction is subject to the acceptance by the seller. The agreement is subject to the seller obtaining constructive title and that the seller holds an unrecorded deed.
Good luck
Michael