Best contingencies to get out of the deal

[Patrick Britton]

Hi,

In your "typical" purchase and sales agreement for a wholesale deal, is there consensus on the best clause, condition, or contingency used to revoke the offer? Heard from some people that they use a feasibility clause but am wondering if there is anything else that might work better.

Thanks

[J Scott]

Just put in a general "Due Diligence" clause that gives you the right to inspect and perform due diligence for a period of X days, and allows you to back out if you're not satisfied with the results of your due diligence for any reason.

Are you planning to tell the seller that you're wholesaling?  Assuming so, they should expect that you'd back out if you can't find a buyer, so this shouldn't be an issue...