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Updated over 14 years ago on . Most recent reply

User Stats

174
Posts
14
Votes
Savannah Leigh
  • Real Estate Investor
  • scranton, PA
14
Votes |
174
Posts

contract clauses to get costs covered in delay?

Savannah Leigh
  • Real Estate Investor
  • scranton, PA
Posted

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?

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