Sign Contract without disclosure

[Kevin Kim]

Hello

I am about to sign contract. The property is totally renovated multi family (this home is hot home and there was a lot of people in the open house) I have offered with inspection contingency (information only) and luckily my offer is accepted.

I have asked disclosure so my agent is checking with seller side agent. However the seller side seems busy so my agent says what we can do is I can sign so we can move forward the contract. We can deposit earnest money when the disclosure is available and do not deposit til the disclosure is available. As long as we don't deposit any earnest money, there is no obligation.I think it is still ok (as long as I don't send money, the contract is not really valid..) but just want to double check if there is any concern.  Thanks

[Brian Boyd]

There are a few issues here: 1) you are being pressured by this being a "hot" property- Don't let that cloud your judgment or your business plan; 2) Without full disclosure in the form of property disclosures or an inspection, you really have no idea what this property has going on underneath the veil---- Get an inspection and pressure the selling agent to provide disclosures; 3) If you don';t put earnest money down with your contract or within a few days of your accepted offer (depending on the contract requirements) your offer is not accepted since there is no consideration. This means they can take another offer while you are waiting on disclosures. 

Be careful, don't get out over your skis because you want the property. Good luck!