After Getting a Property Under Contract

[Collin S.]

This may be a simple question... Once I find a solid deal and put it under contract to secure it, do I have an option period in which to find funding? Let's say I have a cash investor that I am partnering with. I find a great deal and want to put it under contract and then bring to him to handle the purchase. Does putting a property under contract obligate me to purchase it, or is there a few day option time for inspection/getting financing together? Do this differ by state (I am in Florida)? Thanks!