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Updated about 5 years ago on . Most recent reply

User Stats

26
Posts
7
Votes
Kelly Wiggs
  • Evansville, IN
7
Votes |
26
Posts

Contract sale improvement language

Kelly Wiggs
  • Evansville, IN
Posted

I'm working on a seller financed deal for 4 house and after reviewing the contract everything looks good except the following:

X. Changes and Alterations. Without the written consent of the SELLER first had and obtained:

A. Neither the purchased Real Estate nor any part thereof shall be removed, changed, remodeled, painted or altered in any way whatsoever; and

B. No additional improvements of any kind, including, but not limited to, outbuildings, fencing or landscaping shall be placed on the purchased Real Estate.

I sent the seller an email asking about it. Is this pretty typical in a contract sale? This is my first one. Part of the attractiveness of the deal is there is a lot of add value to the properties, and I could get a loan to get all my initial investment back out after the improvements. With this is sound like I have to ask before I do anything, correct? 

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