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Updated almost 8 years ago,

User Stats

115
Posts
17
Votes
Nick Zocher
  • Wholesaler / Real Estate Agent
  • Oakland, CA
17
Votes |
115
Posts

Seller's Attorney Scrutinizing Contract & More

Nick Zocher
  • Wholesaler / Real Estate Agent
  • Oakland, CA
Posted

Hi All,

I am having an issue with my Seller's attorney making said Sellers wary of our deal. The attorney did not like that fact that my purchase agreement was not on the standard state form, and also that my earnest money was so low. 

So, my question is really two questions:

A) Has anyone else had issues getting deals done on proprietary purchase agreements which are not the official state form (C.A.R form in my case, being in California). How have you navigated this issue?

B) Has anyone else had issues with getting the sellers to feel comfortable signing when you are essentially not putting earnest money down? (I list $1, just to open escrow with a title company.)

Unfortunately for me, putting down a substantial % is not an option as I am dealing with $1M+ homes. I know that the end buyer will be using a standard state purchase agreement and will list a substantial deposit, but how do I get my sellers to feel comfortable to sign my contract with no emd before that step?

Any and all advise gladly accepted!

Thanks

Nick

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