I just try to weed them out, I don't need them to tell me what I need (generally) but to perform the work requested at an agreed price. :)

"Out lot" sales in a commercial shopping center can be 3 or more years out requiring the all kinds of contingencies.Extending purchase agreements happen everyday, while the term of an extension is usually a few days or a month, there is nothing preventing an agreement to be extended for a longer term or as to any right or option to extend a purchase agreement.One and the main difference between the two contracts is that an Option does not (for a true Option) require performance by the optionee or buyer and a purchase contract requires performance by both parties, bi-lateral and uni-lateral agreements.An option may not have any default provision for performance as exercising the option is up to the buyer, the purchase agreement requires performance and carries penalties for non-performance.

My first investment property was a vacation home in FL and it's been a weak performer.

Overall, your purchase looks like it will have legs once the property - including the carriage house - is performing ... at the moment your CoC looks a little low.I would get some additional quotes on your repair costs.

[Note: The Limited Liability Corporation (LLC) exists in the U.S.A and there is no equivalent in Canada; the LLC is part way between our Sole Proprietor and a Corporation and sports some features of each].

. , only the upgrades that make sense for increased rents/lesser vacancy/better tenant profile etc. should typically be performed.

. :)See how life is as a tenant, there are advantages, especially if you plan to travel.Start planning now, but I don't like the idea of selling performing and appreciating assets and then living off the money.

The agreement is made to transfer title after the buyer performs their obligations under the contract.

@James SyedIs the building performing?

Can't recall a seller disappearing, they may not answer calls.Two options; walk away or sue them for performance.