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Updated over 8 years ago on . Most recent reply

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3
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1
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Nicholas Pollock
  • Minneola, FL
1
Votes |
3
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Contract with Escape Clause!?

Nicholas Pollock
  • Minneola, FL
Posted

Hey everyone, 

I'm new to wholesaling and i have been searching and searching for a contract that includes an escape clause. I know its been discussed on here before but i couldn't seem to find what i am looking for. Is my best bet just to get one written up by an attorney? Do most of you wholesaler even have escape clauses included in your contracts? Thanks in advance!! 

Most Popular Reply

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9,365
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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
6,551
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9,365
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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
Replied

Escape clause? Do you intend to close on a written contract YOU signed, making representations YOU want to buy a property, or MISLEAD the owner, and rely on BS escape clauses to get out of the deal? You have come to the right place for information from the BP cheerleading squad on how to operate dishonestly if that is your desire. Just our of curiosity, if this garbage was pulled on your mother, sister, brother, or best friend would you laugh it off as "just business" or would you be upset that a scammer caused them problems? Why not get funding and CLOSE on the deal. Keep your word? The seller wants his property sold, not lies and BS escape clauses. If you want a few, and don't care about integrity, here are some you can use:
1. subject to my partners approval (your partner can be your pet rat)
2. subject to a 120 day inspection (my inspector is world class and in high demand)
3. subject to a 40 year mortgage at -0-% interest
4. subject to test drilling for gold or silver
5. subject to a test well for oil (make sure you have mineral rights)
6. subject to a new highway coming through the property so I can sell at top dollar through eminent domain

Hope this helps! Get some business cards printed up. Make sure you tell sellers you are NOT an agent, but that you offer everything they can, but without the high fees and 2 years marketing time. Being an unlicensed broker takes skill and cunning. Practice practice practice! 

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