Updated about 9 years ago on . Most recent reply
NJ Non Exclusive Option Agreement
Does anyone have access to a Non Exclusive Option Agreement that can be used in NJ? If this has been answered please forgive Im in a bind.
Most Popular Reply
Bill Gulley
#3 Guru, Book, & Course Reviews Contributor
#3 Guru, Book, & Course Reviews Contributor
- Investor, Entrepreneur, Educator
- Springfield, MO
- 12,884
- Votes |
- 21,918
- Posts
Bill Gulley#3 Guru, Book, & Course Reviews Contributor
#3 Guru, Book, & Course Reviews Contributor
- Investor, Entrepreneur, Educator
- Springfield, MO
Don't know what guru thought that up, trying to mix an exclusive/non-exclusive listing with an option.
That is not an option then.
Have you hear of a "first right of refusal" ? Make it simple, do a contract with the FROR, add an addendum saying the seller may continue to market. That's all you need and you actually do have more control than an invalid instrument misapplied by definition, providing covenants that are opposed to the type of agreement that require specific obligations. :).