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Updated over 4 years ago on . Most recent reply
Real Estate Offer Question
Hello,
Im going be making an offer on a property that currently has really bad tenants and trying to purchase the property vacated prior to close of escrow. What can i state in the offer contract details to protect me if the tenants were to make any damages to the property while moving out? Currently i am stating (property delivered vacated 5 days proir to closing and subject to inspection). I heard of things such as set up escrow account for additional repairs. Any pointers or recommendations?
Thanks!
Im going be making an offer on a property that currently has really bad tenants and trying to purchase the property vacated prior to close of escrow. What can i state in the offer contract details to protect me if the tenants were to make any damages to the property while moving out? Currently i am stating (property delivered vacated 5 days proir to closing and subject to inspection). I heard of things such as set up escrow account for additional repairs. Any pointers or recommendations?
Thanks!
Most Popular Reply
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Wayne Brooks
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Most standard purchase contracts have a clause that the property will be delivered in the same condition ss the date of the contract.
Be aware though, most sellers will be hesitant to empty a property for fear you may not close...so most will require a large non refundable deposit in the event you can’t close.