Need Sound Advice for Current Scenario/Situation Re: Commercial Property

[Catrina M. Crowel]

Hey there BP Peeps ~ 

I put a call out to my Attorney friends in the industry BUT. . .

I figured I'd put this question out there to the community as well, as I'm waiting for a response. 

Without disclosing property details or location at this time, I've been communicating with a seller that seems very motivated to sell. However, he's had a few offers from investors/wholesalers that fell through, so he is refusing to lock up the contract UNLESS & UNTIL we view the property in person and make our best offer. If he likes the offer and we can close in 30 or less days, we have a deal.

QUESTIONS:

1. How do we protect ourselves in this scenario if we do a JV?

2. IF there is a Quitclaim Deed (not yet verified if title is free and clear) will this hinder our progress?

3. Seller will not budge on asking price, even with the best negotiation tactics. Now what?

BTW. . .This is a "Fire Sale," and we are interested in pursuing if it's worth our time and efforts. Thoughts???

I would appreciate your weigh in on this please and thank you!