The Buyer agrees to use commercially reasonable efforts to secure such financing within [Number] days following the execution of the PSA.Closing DateThe closing of the transaction (the "Closing") shall occur on or before [Proposed Closing Date], or such other date as may be mutually agreed upon by the parties in writing, subject to the satisfaction of all conditions precedent set forth in the PSA.Condition of TitleThe Seller shall convey to the Buyer good and marketable fee simple title to the Property by warranty deed, free and clear of all liens, encumbrances, leases, tenancies, easements, restrictions, and other exceptions to title, except as may be expressly approved by the Buyer in writing.Property DocumentationThe Seller shall deliver to the Buyer, within [Number] days of the execution of the PSA, all documents and information relating to the Property in the Seller's possession or control, including but not limited to, title reports, surveys, environmental reports, leases, service contracts, permits, and warranties.Non-Binding NatureThis LOI is intended solely as an expression of the mutual intent of the parties with respect to the proposed transaction and does not constitute a binding agreement, except with respect to Section 9 below.

It is my belief that jurisdictions that are applying rent control to existing units that are over 15 years are mis applying the rule and I base my opinion on 1) what senator wienkowski has indicated 2) the rational of the 15 year exemption (to not discourage adding units).  

I originally think that Florida's insurance is off control, then I found the NC properties' insurance increased 40% from last year and tax will increase also.With current inflation(3%, 30%, or 300%), more and more people can't keep a home in most place although the interests maybe under 4%. 

$650k won't go very far for a multifamily.Most multis in MoCo are in Takoma Park which has extremely restrictive rent control.

If not if you have site control you can look at other permits for construction in the area for other projects.

Gayle, is the property subject to AB 1482 or any other local rent control ordinance? 

The remote controls are just like the TV remotes and tenants break them and lose them and there are no replacements at times.

What can I do for damage control and lower the bill to what we emailed him as our estimate.

This rise in rates is partly aimed at controlling inflation but has also made borrowing more expensive, reducing purchasing power.Consequently, money is effectively worth less due to inflation, meaning more is needed to purchase the same goods and services as before.

My mortgage will be still around $1800 but will allow me to control an asset worth 630k.