Clearly, the buyer does not want to buy it anymore and therefore he will use this as an excuse to back out.Nevertheless, I never had a problem of getting the other party to extend the closing date.

Also separate everything from the personal finances of the parties.

Auria you didn't mention if this is STNL (single tenant net lease) meaning one tenant in a stand alone building or a MTNL (multi-tenant net lease) for example a strip center with varying leases and tenants.

. - Presumptions.It says in part: "...All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved."

Welcome to the party!

Concentrate on location and make your unit stand out in the pictures.

My lease has a clause that says if the house is damaged to the point where its uninhabitable the lease is terminated with no consequences to either party.

But since we also got to a point where most investors are waiving inspections or else you don't stand a chance...It boils down to other factors, like if you are using a buyer agent which cuts out 1/2 of the LA's commission, or like Patrick stated above, offering extra cash for closing, or high EMD etc...

That's where I stand at the moment.

After talking with one mortgage broker however, I was told that I could not accept gifts from outside parties to help fund this transcation and that the money would have to come entirely from me.