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Updated over 14 years ago,
contract clauses to get costs covered in delay?
In personal deals, delays are covered in a 'deal with it or walk' scenario by both parties...meaning neither party tries to recover expenses created by delays. Except banks.
Banks have clauses where buyer delays are met with $100/day costs. Question is, what language can I put in offers that provide my company a way to recover our costs (usually during short sales) caused by seller/bank delays. I see it as only fair if one side is asking for penalties that both do
My agent says such language will prevent my offers from being accepted...I think I need a more agressive agent lol!
Thoughts? Anyone have such clauses?