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Updated about 4 years ago on . Most recent reply

David Ptak's profile image
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David Ptak
  • Investor
  • from San Diego, CA
  • Member since Feb 29, 2016
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David Ptak's profile image
David Ptak's profile image
David Ptak
  • Investor
  • from San Diego, CA
  • Member since Feb 29, 2016
Connect
David Ptak
  • Investor
  • San Diego, CA
8
Votes |
49
Posts
Commercial Real Estate Investing

Commercial Purchase of Motel

David Ptak
  • Investor
  • San Diego, CA
Posted

I'm looking to purchase a motel. The seller wants 2.5% of the sales price for the earnest money deposit with a 30 day contingency period and a 45 day close. It would include seller financing. Does this sound reasonable? And, If I'm out of state do I need a lawyer in that state? And, if I do, does anyone have a recommendation? Any advice is greatly appreciated!

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