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Updated over 10 years ago,
New Construction Contract
So I have a spec house under contract, in order for the buyer to qualify for the construction loan, he says the lender requires that he own the land.
How can I draft it to where I'll sell the land but guarantee that he won't back out in regards to the build???
Can I add a contingency clause that I get the land back and he gets any $ back should for what ever reason he wants to back out?
I don't feel as if he'll back out but want to legally cover all of my bases.
Any advice would be greatly appreciated!