Skip to content
×
PRO Members Get
Full Access
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime.
Level up your investing with Pro
Explore exclusive tools and resources to start, grow, or optimize your portfolio.
10+ investment analysis calculators
$1,000+/yr savings on landlord software
Lawyer-reviewed lease forms (annual only)
Unlimited access to the Forums

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Followed Discussions Followed Categories Followed People Followed Locations
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 10 years ago on . Most recent reply presented by

User Stats

23
Posts
9
Votes
Jeffrey Armstrong
  • Investor
  • Hoffman Estates, IL
9
Votes |
23
Posts

No signed contract, relator argues against addendum to contract

Jeffrey Armstrong
  • Investor
  • Hoffman Estates, IL
Posted

my wife and I put an offer in on a house.  It has been tentatively accepted but there is a relo company involved.  So I don't have a signed contract nor put in any earnest monies.  The relo had an inspection done and found three major issues.  My wife and I discussed and said we are not going to buy it unless they are fixed.  We don't want to assume any risk in costs etc.  So I told the realtor to add an addendum to the contract, I mean they hasn't signed so I don't see why I can change what I offered, or cancel all together.   She is saying we need to accept this report and then after the seller signs the offer and we put down our money then we can demand it to be fixed.  I say what is the point in going through all that, put in the addendum, if they accept it fine, if not then I just saved myself a bunch of work.  It sounds to me like my realtor is trying to get us more locked in than we are right now.

Most Popular Reply

User Stats

49
Posts
28
Votes
Michael Mcghee
  • Wholesaler
  • Memphis, TN
28
Votes |
49
Posts
Michael Mcghee
  • Wholesaler
  • Memphis, TN
Replied

@Jeffrey Armstrong Your realtor could be on to something here. If you push too hard in the beginning they may accept another offer without those contingencies. To cover yourself, accept the contract but make sure you have an inspection contingency for 7 to 14 days. This will give you time to negotiate for those items and if they balk you can walk without losing earnest money. It's easier to get a seller to do something sometimes if it's standing in the way of a closing. In the beginning it's only the offer so you're negotiating from a different point of view.

Loading replies...