But there are about $1600 worth of deposits acknowledged on the estoppels.

Instead should I ask for POF.If I do not have to double close and if the buyer puts down earnest money, how do I acknowledge the receipt of the EM.After I assign the contract do I hand over the purchase agreement to the cash buyer before the closing.

Because I think that is the real gauge of success on this "Flip" though I acknowledge it wasn't a pure flip.

Michigan law simply states "reasonable notice" and I always provide notice and acknowledge requests same day (often times fixing things same day if they are home).

Sometimes they don't even counter or acknowledge your offer if it's in that range.

A property that I'm thinking of putting an offer has an Addendum that lists:"Buyer acknowledges that this property is subject to Short Sale Lender and Bankruptcy Court Approval.""

ASSIGNEE acknowledges receipt of legible copies of the original Contract for Sale and Purchase in its entirety including all Addendum(s) associated with this transaction.Now in my Original contract I have an inspection contingency, which will also get passed to the cash buyer when I Assign the contract, so there is all the chance for this deal to fail if the my buyer comes up saying there is more in repairs, or the inspection failed at which time he will bargain with the Seller and the seeler may not agree to the new term, the deal will fail.The contingency clause in the Purchase agreement is as follows:11.

Every transaction needs to be transparent but it also needs to be done from the basis of it being understood by a prudent person, if your deal is so convoluted that you think you have to CYA in doing it, you're already over the line.This also goes for acknowledgements, having others acknowledge that they about to be shot has all the same issues mentioned above as to disclosures.

thanks for all the reply's,my real estate lawyer said that he doesnt handle trial work and referred me to someone...he also said that the summons was very confusing and he didnt understand it, and that it seemed like we had signed an "acknowledgment out" letter.Which usually means you are getting your hand slapped, you wont do it again, and that is that.Even the state plumbing inspector told us when we signed the letter that it meant the state wouldnt come after us...but that we had better not let it happen again or things could get ugly...that sort of thing.So monday or tues I'm going to meet with the trial lawyer and I'll come back on here and update.

(and I hope I'm not being naive)Yes, I also acknowledge that Sat is on Memorial weeked and that sucks and could be the reason for it not being sold out yet.Anyway... more info?